Crypto exchange platform Bitfinex and Tether have collaborated with Hypercore to launch a P2P platform, Holepunch and a free-to-use video calling app called Keet on Holepunch.
Keet will allow real-time audio/video calls, text chat and file sharing. The app will utilize peer-to-peer connections to facilitate communication which will eliminate the risks of a central point of failure and over reliance on third-party platforms.
The app also supports Bitcoin payments powered via the Lightning Network. Tether tokens will also be supported as the default micropayments system for businesses that want to build products on Holepunch.
Moreover, Keet is powered by an innovative stack of distributed technology, including DHT distributed databases. This allows users to find and connect to each other to form a swarm, on real-world home and office networks.
This method is called Distributed Holepunching. It allows users to locate and connect to each other using only cryptographic key pairs upon authorization.
Holepunch is a P2P platform intended to allow developers to build Web3 applications.
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Hoelpunch was launched to ‘to unlock global communications and empower freedom of speech, access to information and combat censorship around the world.’
Bitfinex and Tether are involved in the project because it ‘believes that freedom of choice, communication and finances are the lifeblood of the future, and anything that will enhance those freedoms is worth amplifying.”’
Bitfinex and Tether have invested a total of $10 million to aid with the development of other projects on the protocol.
The protocol will be made open source after it finishes its alpha testing by the last quarter of 2022.