TechFlow news — Tether, Bitfinex, and Hypercore have partnered to launch Holepunch, an encrypted P2P application aimed at breaking technological monopolies and empowering users with control over their data. As part of this initiative, the three companies have also introduced Keet, an encrypted app enabling real-time audio and video calls, text messaging, and file sharing. The development of the Holepunch platform is funded by Tether and Bitfinex. Paolo Ardoino, CTO of Tether and Bitfinex, will serve as Chief Strategy Officer leading this new venture.
Holepunch is currently operating in alpha or pre-release stage as a closed-source protocol and is set to transition to open-source code by the end of 2022. Throughout this process, Holepunch will not utilize blockchain technology at its core, instead relying on an internal payment API powered by the Lightning Network. Developers building solutions on the Holepunch protocol will be able to use USDT as the default for micropayments. However, the company has not yet disclosed support for other cryptocurrencies or stablecoins.
