Cryptocurrency news

Steve Wozniak’s New Token Skyrockets in value in less than a week



The Apple cofounder’s token WOZX created a lot of buzz in the crypto space that made the token to increase by 1400% in five days.

It was just on Dec 3 that the token received its first listing on the HBTC exchange at $0.10 per token. Currently, it is trading at $2.59 and plans to get listed on the South Korea-based exchange Bithumb on Dec 9.  It is anticipated that once it gets listed on Bithumb, its value will increase further.

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WOZX is based on the Ethereum blockchain as an energy-saving platform. Surprisingly, the token’s total supply is one billion, which was sold privately at the beginning of the year at a total valuation of $80 million.

According to the company behind it Efforce, the coin reached its market cap of $950 million within the first thirteen minutes of trading.

This is the second blockchain-related company that Wozniak is co-founding. He intended to start a blockchain-based energy-saving platform that encourages the reduction of energy consumption without altering normal human behaviour.

Wozniak said:

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We created Efforce to be the first decentralized platform that enables everyone to participate and financially benefit from energy efficiency projects around the world and create significant environmental change,”

Users of the platform will get token as a reward depending on the amount of energy they have saved. The tokens will also be utilized by contributors who want to engage in energy-saving projects. Investors will have the chance to participate in saving the environment through different energy-saving initiatives.

Efforce was founded in 2019 in Malta. Apart from Wozniak, other cofounders are Jacopo Visetti in charge of project lead and Jacopo Vanetti who is the CTO.

From a press release done on Dec 4, highlighted how Efforce would increase the efficiency of the energy market by connecting investors to energy-saving projects. Apart from a sustainable future, energy efficiency will also help to deal with climate change and reduce the carbon footprint.

Although WOZX is getting listed on Githumb and other exchanges in future, it still has a limited supply of 1 billion.

As much as blockchain is solving problems in every industry, the energy industry is still untapped as there is still a $250 billion energy market to be tapped. Both the private and public sectors are investing heavily to save the environment. Through WOZX, both small and big investor will be able to partake the market.

Image by Libre Info from Flickr



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