Ever opened your laptop at coffee shop and saw that wifi hotspots you couldn’t join. But now you can access hotspots nearby by using Wificoin.With wificoin you can access wifi using crypto currency or you can even share our wifi to earn wificoins.
Eren caner one of the member of wificoin project explained how its gona work. At TechCrunch Disrupt SF 2017 Hackathon he said Wificoin first installs its open source OS onto a Wifi router. When new users try to connect to it, they get 100 Wificoin, which they can spend for 1 megabyte each of wifi access. If they need more, they can either buy Wificoin with Bitcoin or Ethereum, or they can install the software on a router they own which earns them Wificoin each time someone uses. This strategy lets Wificoin simultaneously grow its presence on routers around the world, and earn money.
wificoin team plans to allow people to monitor their bandwidth, and switch which device they’re using to access the Wifi by authenticating both through Facebook. You can buy a few megabytes of bandwidth for a few cents,depending on your usage with bitcoins and etherum . One of the biggest opportunities for cryptocurrency is the ability to transact micropayments without a high processing fee like with credit cards. But eventually it allows people to buy with traditional credit cards.
Developer Alex Atallah says there are some flaws with this project i .e If someone steals your passwords by snooping on your wifi data, they could potentially empty your crypto wallet.He said they are looking into these vulnerabilities before its launch.