Leading stablecoin issuer Tether and crypto exchange Bifinex in collaboration with Hypercore, a peer-to-peer data network has announced the launch of a fully encrypted video-calling application dubbed Keet [https://keet.io].
Per the announcement blog, the free video calling app employs peer-to-peer connections to facilitate real-time audio/video calls, text chat, and file sharing.
The new feature is powered by an innovative technology called Distributed Holepunching that allows users to find and connect to each other using only cryptographic key pairs upon authorization.
This, according to the blog, empowers users with the ability to be in control of their own data and communication channels, without the prying eyes of any third party.
Compared to traditional video chat apps that typically use cloud-based software or outside servers as intermediaries to connect two or more people, Keet users would directly initiate a call to another individual’s computer, without the need of a central server or firms operating the network.
Speaking on the launch, Paolo Ardoino CTO of Tether and Bitfinex & CSO of Holepunch stated,
Web1 was the original form of the internet. It was designed to distribute information and knowledge on a global scale but it didn’t come without issues. Web2 improved upon many of the user experience roadblocks of Web1 but not without one major flaw- it requires users to give up control of their data, which has led to the rise of monopolies and growing privacy concerns.
Tether CTO- ” Freedom Is Lifeblood Of The Future”
Hence, the firms decided to work on the development of Holepunch and Keet without depending on any server. “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,” Ardoino added.
Besides that, the project is being funded by both Tether and Bitfinex, and CTO Paolo Ardoino has been appointed as Chief Strategy Officer.
As stated in the post, the Holepunch protocol will be closed-source until it completes alpha testing. It will then move to open source code in the fourth quarter of 2022.
Further, Keet’s built-in payments API will run, operate, and be powered by the Lightning Network with Tether tokens being the default micropayments system