The crypto exchange platform Bitifinex and popular stablecoin issuer, Tether jointly developed a video calling software. The two parties, alongside P2P maker Hypercore, have launched a new firm to float their app, Keet.
What is Keet?
Keet is an encrypted peer-to-peer video calling platform that allows users to make audio calls, send text messages, and share files. It is a free platform that the developers envisioned for existing rival ones.
The new application comes with a distributed technology protocol that users can use to connect. In addition, users can also use the application to create a complete home and office network by leveraging the “Distributed Holepunching” technique.
With Keet, users can also locate and connect to others using cryptographic keys upon passing the verification process. This is the most common procedure in other centralized video-calling apps like Zoom.
However, the existence of privacy-centered is not a hindrance to the success of Keet, as opined by Paolo Arduino, the new chief strategy officer of HolePunch.
Keet has a water-proof security architecture that prevents data harvest. Arduino added that the app would allow users to chat with family, friends, and associates without worrying about big tech firms or the government listening to their conversations.
Thus, the CSO noted that the company aims to develop a system that users can access while promoting freedom of expression.
The Making of Holepunch
The company has been a long-term project that spanned more than five years before becoming a reality. Moreover, the two partners, Tether and Bitifinex, have jointly invested close to $20 million in establishing Holepunch and Keet. The coming of Keet has taken years of deliberate planning and strategic partnership before the launch.
However, the Holepunch protocol is currently closed source and will remain so pending the conclusion of the alpha testing.
Furthermore, the testing is to prevent any illicit activity on the protocol. Once the open source is completed in the fourth quarter of the year, the team will move the protocol to the platform. The developers want to ensure the safety of the network before making it accessible to users.
The development team said a VPN app development is currently a work in progress, and the development team will announce the roadmap at the scheduled date.
What sets Holepunch apart from others is that any blockchain technology would not power its operation. It comes with a built-in API designed for payment and is run by the Lightning Network.
A default payment system compatible with Tether tokens is available for businesses interested in hosting their products on the platform. Hole-punch wants to create a realistic platform for individuals and companies to use for daily operations.
Mathias Buus is the CEO of Holepunch. The Danish programmer is a seasoned professional with vast experience in the P2P space.
Buus envisioned a future where Holepunch would be the leading app developer for large companies and startups. Its consistency in innovation will be its greatest asset as competition increases, and others join the fray.