Tether, Bitfinex & Hypercore launch P2P app with Bitcoin LN payments

Sahana Kiran
Source – Unsplash

Rolling out new cryptocurrencies isn’t the only motto of the crypto-verse. Giving a whole new direction to the industry, Tether, the issuer of the largest stablecoin USDT, crypto exchange Bitfinex, and an open-source project, Hypercore, have collaborated to launch a P2P communications platform called Keet.

Over the last few days, Bitfinex has been sharing cryptic tweets about a launch. Earlier today, the trio above rolled out an encrypted application. This app allows users to carry out audio and video calls while exchanging texts and files. It should be noted that all of this would be done in peer to peer manner.

It should be noted that Tether and Bitfinex poured funds into Hypercore to roll out Holepunch. The fully encrypted platform Holepunch was an initiative rolled out to aid in creating P2P applications, and Keet is reportedly a product of the same.

The alpha version of Keet made its debut today. While the app’s mobile version will only launch by November 2022, users can download the app on its website. This is mainly because Holepunch is yet to be moved into open source code, and currently, the project continues to function as a closed source protocol.

The team has reportedly worked on the project for the last three years.

Bitcoin and Keet

Tether, Hypercore, and Bitfinex intend to introduce Bitcoin into the platform. This would mean that users would be able to make Bitcoin payments. In addition, users will be allowed to stream BTC to content creators. The highlight will be the addition of sending Lightning payments.

Speaking about the same, Paolo Ardoino, the CTO of Bitfinex and Tether, said,

“Bitcoin and Tether payments are add-on features to provide payment rails/options for people using applications built on top of Holepunch or plan to build/offer services through the Holepunch network.”

While other cryptocurrencies are still under the wraps, Bitcoin and Tether have already secured a spot.

The need for a decentralized communication medium was long due. At the same time, Twitter and Telegram have been core communication mediums for the crypto-verse, and the chances of Keet emerging as one of these prominent platforms were high.