Backed by Bitfinex, the state-of-the-art digital token trading platform, Tether Operations Limited(“Tether”), the company operating the blockchain-enabled platform tether.to that powers the first and most widely used stablecoin, and Hypercore, a developer of peer-to-peer, scalable, and cryptographically sound distributed systems, Holepunch was founded to unlock global communications and empower freedom of speech, access to information and combat censorship around the world. Allowing users to be in control of their own data and communication channels is fundamental to breaking free from technology monopolies. Funding is being provided by Bitfinex and Tether, and Paolo Ardoino has been appointed as Chief Strategy Officer.
Keet is the first in a series of peer-to-peer applications that will put control back in the hands of individuals. It is an entirely free video calling app that utilizes peer-to-peer connections in order to facilitate communication while eliminating the risks of a central point of failure and over reliance on third-party platforms. Unlike traditional video chat apps which use cloud-based software or outside servers as intermediaries to connect two or more people, Keet users can initiate a call directly to another individual’s computer. This allows for video chatting to take place without a central server or company operating the network.
“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. Centered around social media, it made content creation, sharing, and consumption seamless but not without one major flaw,” said Paolo Ardoino CTO of Bitfinex and Tether, and CSO of Holepunch. “Web2 requires users to give up control of their data, which has led to the rise of monopolies and growing privacy concerns. That is why Bitfinex and Tether chose to participate in the development of Holepunch and Keet. 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.”
Holepunch protocol is currently closed source and will remain so until it completes alpha testing. It will then move to open source code in Q4 of 2022. The platform will not rely on any blockchain, but the built in payments API will run, operate, and be powered by the Lightning Network. Tether tokens (USDt) will also be supported as the default micropayments system for businesses that want to build products on Holepunch.
“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,” said Mathias Buus, CEO of Holepunch Inc.“Having been heavily involved in the P2P and Node.js ecosystems the last 10 years, I am a big believer in open source and the role that it will play in liberating communication channels for billions of people around the world. This technology will enable Keet and the Holepunch platform to become the most unstoppable communication application, and we are thrilled to finally introduce it to the world.”
Access Keet’s media kit here: [ Media Assets ]
To learn more about Holepunch, please visit holepunch.to ; t o learn more about Keet, please visit https://keet.io
About Holepunch
Holepunch is a platform for building unstoppable peer-to-peer apps. It prides itself on being fully encrypted with no central servers. It was founded by Tether, Bitfinex, and Hypercore. It has received funding from both Tether and Bitfinex.
About Bitfinex
Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for digital currency traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market, and financed trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for professional traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.
About Tether
Tether is the preeminent stablecoin and a pioneer for financial freedom and innovation. Created in October 2014, Tether has grown to become the most traded cryptocurrency, surpassing that of all rival offerings combined. Tether is disrupting the legacy financial system by offering a more modern approach to money By introducing fiat currency-digital cash to bitcoin, Ethereum, EOS, Liquid Network, Omni, Tron, Algorand, and Solana blockchains, as well as smart contract platform, Avalanche, Tether makes a significant contribution to a more connected ecosystem. Tether combines digital currency benefits, such as instant global transactions, with traditional currency benefits, such as price stability. With a commitment to transparency and compliance, Tether is a fast and low-cost way to transact with money.
About Hypercore
Hypercore is the team and company behind the Hypercore modular peer-to-peer stack, used by lots of projects around the world to power their decentralized infrastructure. We create cutting-edge software strictly for peer-to-peer networks without any compromises, focusing on scalability and cryptographically sound distributed systems.
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