What is Keet: Messaging App with Bitcoin Payments
Keet is a peer-to-peer messaging app with bitcoin payment integrations, and the first in a series of P2P apps built on top of Holepunch.
Cryptocurrency exchange Bitfinex and stablecoin issuer Tether have collaborated with Hypercore and collectively created a new platform called Holepunch, which kicks off by launching the Alpha version of an end-to-end encrypted messaging and video calling app to respect users’ privacy. .
Keet should facilitate real-time audio and video calls, text chat and file sharing. It is based on DHT distributed database technology, which allows users to find and connect with each other to form a network through a technique called Distributed Holepunching.
The app, expected to be released for smartphones soon, essentially allows users to locate and connect using only authorized cryptographic key pairs. This approach has been quite popular in a centralized environment, for example Zoom.
Despite the existence of privacy-oriented solutions, Tether and Bitfinex CTO Paolo Ardoino claims that a ton of metadata can still be collected. Ardoino, who has been named Chief Strategy Officer (CSO) at Holepunch, commented,
“With Keet, you can talk to family, friends, co-workers and strangers without the worry of having large or oppressive governments listening to your communications or harvesting your data.”
Holepunch and Keet
The three companies have been working on the project for the past five years. In addition, Bitfinex and Tether have also invested nearly $10 million in developing Holepunch and Keet.
The Holepunch protocol is currently closed-source and will remain closed-source until alpha testing is complete, supposedly to prevent Web3 VCs (venture capitals) from copying the project and adding an altcoin on top of it to “milk the crypto community”. The promise is that the source code will be open sourced in the fourth quarter of 2022, although it is uncertain what should change regarding the possibility of another company copying the code and adding altcoins by then.
Ardoino also revealed that a VPN addition is also on the project roadmap.
Holepunch will not rely on any blockchain. Instead, the built-in payments API will run through the Lightning Network (LN). Companies interested in building their products on the platform will have a standard micropayment system that will also support Tether tokens.
Mathias Buus, CEO of Holepunch Inc., explained:
“Rather than relaying communications through a single server, as most virtual communication applications do today, Holepunch is an open network of computers that colleagues can use to discover each other.”
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