Crypto Exchanges Take On Google With New Video Chat App

Crypto platforms Bitfinex and Tether collaborated with Hypercore to launch Keet, a peer-to-peer video chat application. The application also allows for audio and text exchanges and fully supports Bitcoin Lightning and USDT payments. 

Bitfinex, Tether, and Hypercore also launched Holepunch, a protocol that would allow building peer-to-peer apps. Keet was the first app launched on the Holepunch platform. 

In the launch video, Keet takes a shot at companies like Google and Amazon and mentioned that they often engage in recording user data and selling it to advertisers. Keet promises to build an Internet of Peers that removes any middleman while audio/video data sharing.

How does Keet Work

According to a blog post by Tether, Keet uses distributed technology called Digital Holepunching that allows users to connect without any middleman. All the connected users form a swarm and facilitate audio, video, text, and file transfer throughout the network.

Paolo Ardoino, who is the CTO of Bitfinex and Tether, reveals that Holepunch and Keet allow users to communicate without any data piracy from big-tech companies or oppressive governments. Ardoino has been appointed as the Chief Strategy Officer of Holepunch.

Ardoino also reveals that the Android/iOS version of Keet is about 2 to 3 months away. In another major announcement, he revealed that the platform will be completely free of cost and open source. He stated that the company’s objective is not to make money through it but to contribute to the Bitcoin and Web 3.0 community. 

Tether believes that Keet can amplify the freedom of choice, communication, and finances. The payments API will be powered by Bitcoin Lightning Network and the platforms that are built on Holepunch will have Tether as their default mode of payment. 

Keet Competes With Google

According to Keet, the platform can break tech monopolies over many facets of online communication and data sharing. The launch video also mentions that existing services like WebRTC have a middleman that can interrupt the entire network. 

On the other hand, Holepunch allows apps built on it to be censorship-resistant and not be in the control of any centralized agency.

Nidhish is a technology enthusiast, whose aim is to find elegant technical solutions to solve some of society’s biggest issues. He is a firm believer of decentralization and wants to work on the mainstream adoption of Blockchain. He is also big into almost every popular sports and loves to converse on a wide variety of topics.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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