Bitfinex And Tether Jointly Launch P2P App Called Keet

Bitfinex and Tether jointly launched a P2P app called Keet which is the first of its kind built on the Holepunch platform so let’s have a closer look at our latest Tether news.

Keet will be the first peer-to-peer app built on Holepunch and Bitfinex and Tether jointly launched it in collaboration with Hypercore. According to the official press release, KEet will facilitate real-time audio and video calls, file sharing, and text chat. It is based on the DLT technology and the DHT distributed databases which allow users to find each other and connect to form a swarm on real-world home and office networks in a technique called Distributed Holepunching.

It enables users to locate and connect using only cryptographic key pairs upon authorization and the approach was quite popular in a centralized setting. Despite the existence of privacy-oriented solutions, the CTO of Tether and Bitfinex Paolo Ardoino claimed that a ton of metadata can be collected. Ardoino was appointed as the chief strategy officer of Holepunch saying:

“With Keet, you can talk to family, friends, co-workers, and strangers without the worry of having big-tech or oppressive governments listening to your communications or harvesting your data.”

The three companies were working over the past five years on the proejct and both Bitfinex and Tether invested $10 million in the development of the Keet and Holepunch. Right now, the Holepunch protocol is closed course and will remain like that until the completion of the alpha testing avoid rouge Web3 forks and add that an altcoin on top of it can milk the crypto community so it will be moved to open source code in the fourth quarter in 2022. Holepunch will not rely on any blockchain but the built-in payments API Will run and operate by the Layer 2 payment protocol – the Lightning Network. The business interested in building the products on the platform will have default micropayments systems that will support the Tether tokens as the CEO Mathias Buus explained:

“Rather than relaying communications through a singular server, the way that most of today’s virtual communications apps do, Holepunch is an open network of computers that can be used by peers to discover each other.”