Bitfinex, Tether Partner With Hypercore To Launch Video Chat App

Cryptocurrency exchange Bitfinex and stablecoin issuer Tether USDT/USD have partnered with open-source protocol Hypercore to launch a video calling application, Keet, which also allows audio, text and file exchanges between users and supports Bitcoin Lightning and USDT payments.

The Keet application was built as part of a fully encrypted platform called Holepunch for building peer-to-peer applications and is powered by Distributed Holepunching (DHT) technology that allows users to locate each other and connect “using only cryptographic key pairs upon authorization."

The alpha version (pre-release phase) was launched today, and the application can be downloaded from Keet’s official website starting November 2022.

Keet will improve upon existing Apps Such As WhatsApp

The application will improve upon existing apps such as WhatsApp that offer end-to-end encryption, though data is sent to centralized servers. In the case of Keet, the connection will only be between users, thereby improving latency and reliability.

Paolo Ardoino, the chief technology officer of Tether and Bitfinex, has been appointed as the chief strategy officer of Holepunch.

“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,” Ardoino said.

Highlighting concerns related to privacy and data sharing, Ardoino noted that Tether and Bitfinex believe that freedom of choice, communication and finances are the lifeblood of the future, and anything that will enhance those freedoms is worth amplifying.

Developers Building on Hypercore Can Use USDT For Payments

Hypercore, a closed source protocol, is a peer-to-peer data network built on the Hypercore logs, that are signed, append-only logs, which are like lightweight blockchains without the consensus algorithm.

Like BitTorrent, as more people "seed" a dataset, it will increase the available bandwidth.

The protocol, instead of using blockchain technology as its core, will instead use an in-house payments API, powered by the Lightning Network.

Developers who build on the protocol will be able to use USDT as a default mode for micropayments.