Crypto exchange Bitfinex, P2P infrastructure developer Hypercore, and crypto-driven organization Tether have recently announced the launch of Holepunch, a platform for peer-to-peer applications.

According to the official announcement issued on July 25th, as part of the deal, the trio also rolled out Keet, a P2P fully encrypted video calling application for video calls and text communication that is powered by Distributed Holepunching (DHT) technology.

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Paolo Ardoino, CTO of Bitfinex and CSO of Holepunch, commented on the project and noted that the three crypto-driven companies have been working for five years now to develop a technology that would provide users “freedom of speech.” He also mentioned that the firms have previously invested over $10M in Holepunch and Keet.

Bitfinex and Tether also implied that they would be investing between $50M to $100M in similar applications in the near future.

Mathias Buus, CEO of Holepunch, noted that Keet will pave the way for users to make direct calls without the need for any other third-party service provider. He added:

“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.”

Holepunch won’t use blockchain technology, as it will integrate the Lightning Network into its protocol. For the time being, it will remain as a closed source protocol but will go live in Q4 2022.

In other news, earlier in July, a number of Web3-driven companies, including Animoca Brands, The Sandbox, Dapper Labs, Upland, and others, joined forces to create the Open Metaverse Alliance (OMA3) in order to find solutions to metaverse-related problems.

by Gyth L. – Crypto Analyst, BitDegree