Tether, Bitfinex aim at building the next internet with P2P app Keet

In the first in a series of P2P applications, Tether and Bitfinex CTO Paolo Ardoino has announced the launch of Keet, a blockchain-based P2P video chat app.

The app will run on the Holepunch platform, which allows users to connect via text, call, or video via distributed technology.

Holepunch calls the technique “Distributed Holepunching and allows users to locate and connect to each other using only cryptographic key pairs upon authorization.”

Tether Operations, Bitfinex, and Hypercore – a developer of peer-to-peer, scalable, and cryptographically sound distributed systems – collaborated to create Keet, “the first in a series of peer-to-peer applications that will put control back in the hands of individuals,” according to the press release. Ardoino commented:

“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…

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 Tether and Bitfinex 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, andss anything that will enhance those freedoms is worth amplifying.”

Tether CTO Paulo Ardoino has been appointed the Chief Strategy Officer of Keet, showcasing a dedication to the project from the most senior members of the Tether organization.

The Holepunch platform could be seen as an attempt to create more than just web3. The P2P platform could pave the way for a new P2P internet.

Akin to the Piped Piper app of the hit TV show Silicon Valley, the Keet app is the first application to be released on the Holepunch platform.

However, the announcement opens the door to a wealth of new Holepunch apps in the future. Mathias Buus, CEO of Holepunch Inc, remarked,

“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.”

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“So what we have been working towards is to create a platform that would allow users to access applications that are unstoppable and provide freedom of speech.”https://t.co/yuFBuWrLPc

— Paolo Ardoino 🕳🥊 (@paoloardoino) July 25, 2022