Tether, Bitfinex and Hypercore setting New Communication Standard
Our daily communication is dominated by a few applications such as Instagram, Whatsapp, Snapchat, and Messenger. But are our conversations private and safe enough? Multi-billion dollar companies control these communication platforms.
To solve the privacy issue, Holepunch and Keet are going to be introduced by Bitfinex, Tether, and Hypercore to solve the issue. You can build peer-to-peer applications on the fully encrypted platform known as Holepunch. A privacy-first peer-to-peer communication app, Keet, is the first app to be built on the fully encrypted Holepunch platform.
What is Holepunch?
Web 3.0 applications are built on the Holepunch platform. Holepunch was created to empower freedom of speech around the world by breaking down barriers to communication and fighting censorship. The Holepunch team believes that data ownership and open communication are vital to breaking the monopoly of big technology companies.
Holepunch believes that freedom of communication, finance, and choice are the lifeblood of the future, and any platform that will enhance these freedoms is worth scaling and amplifying, said Paolo Arduino, the Chief Strategy Officer at Holepunch. There has been a lot of damage to individual data ownership by big technology monopolies. Holepunch seeks to undo some of the damage.
Holepunch is undergoing alpha testing and is currently a closed-source platform. It is expected to transition to an open source platform in Q4 of 2022. It is important to point out that the Holepuch platform will not depend on any blockchain network. However, it will use Bitcoin’s Lightning network to operate and run its built-in micropayments function. Payments in USDT will also be accepted by Holepunch.
Keet is solving privacy one swarm at a time.
Keet is a free peer-to-peer communication app. Keet is also the first app to be built on the fully encrypted Holepunch platform. Keet will allow you to share files, text, and video calls. A variety of distributed technologies, like distributed databases, are used to perform these functions. A swarm is formed when a user connects to these varied databases.
A technique called distributed holepunching is leveraged by Keet. This technique allows users to connect directly with other users using only cryptographic key pairs. This eliminates third-party servers and reduces points of failure in your communication.
Over the last ten years, Mathias Buus, the CEO of Holepunch, has been heavily involved with P2P and Node.js ecosystems. He is a strong advocate of open source technologies and a big believer in their potential to change the way we communicate. Mathias states that he is a big believer in open source technology and that it will play a major role in liberating communication channels for people around the world. He also believes the Holepunch platform will become a new standard in communication systems because of its open-source quality.
Technologies behind Holepunch
One of the most widely used stablecoins is USDT. It was launched in 2014 by Tether. It is responsible for issuing USDT. Tether is a blockchain platform that enables you to use fiat currencies digitally. USDT tokens are backed by reserves and are pegged 1-to-1 with fiat currency. This eliminates the risk that comes with volatile digital crypto tokens as you can transact with traditional currencies on the blockchain.
Hypercore develops peer-to-peer distributed systems. These systems are both secure and scalable. It provides small building blocks that enable you to create multi-user networks.
Bitfinex is a crypto exchange that offers an OTC market, margin trading, and peer-to-peer financing. Bitfinex was founded in 2012 and provides unparalleled customer support and state-of-the-art trading tools.
The Holepunch platform could potentially be a game changer when it comes to the data ownership of an individual. Web 3.0 applications can be easily created using this platform. Holepunch is committed to open source technology and breaking technology monopolies in the communication field. This could be very important for future innovations. Keet is the first application built on this platform and is a positive step towards securing future innovations. We believe in the Holepunch platform’s ideals and hope that they develop many more innovative products to help secure an individual’s data privacy.