Tether explains the reasons for developing a decentralized messenger for communication

The world’s largest stablecoin issuer Tether and cryptocurrency exchange Bitfinex have announced the launch of Keet, a decentralized messenger for communication.

As it became known, Bitfinex and Tether have teamed up with software developer Hypercore to jointly create fully encrypted P2P applications on their own Holepunch platform. The first product of their collaboration is Keet, a fully secure video calling application. The new application gives users full control over their data and communication channels without using cloud software or external servers as intermediaries. Several cryptographic keys are used to secure the direct connection.

Currently, the Holepunch protocol is in alpha testing mode and has closed source code, but the developers plan to open it by the end of 2022. Holepunch will not run on the blockchain, but will use the Lightning Network, a second-level solution that speeds up bitcoin transactions while reducing costs. Developers who wish to create, for example, a payment application on Holepunch will be able to do so via Lightning.

Paolo Ardoino, CTO of Tether and Bitfinex, said that the main reason for developing a decentralized messenger for communication is the desire to give users complete freedom to express their own thoughts.

«Privacy is one of the most forgotten human rights. Everyone should have the right to say what they want to their parents without worrying if someone else is listening,» Ardoino emphasized. According to Paolo Ardoino, in addition to financial freedom and independence, it is important to have freedom of speech, which is not always possible in modern applications (including the possibility of being heard by a third party).

As Ardoino explained, the Keet app is free to use and safer than centralized Web2 analogs such as Zoom or Google Meet. Users will be able to call directly to the other person’s computer without saving anything on the server. Currently, Keet is available for use only on a computer, but the developers promised that a mobile application will appear in the near future. Keet representatives also emphasized that the video quality of calls will be amazing from anywhere in the world.

As a reminder, the stablecoin Tether (USDT) became the first cryptocurrency to receive the status of a stable coin. However, even the leaders of the crypto industry are not 100% protected from hacker attacks. In late June, Tether representatives reported an attack on the official website of the stablecoin. The attackers demanded a ransom from the company to avoid massive DDoS attacks, but the Tether team took the necessary measures to prevent possible pressure on the system and maintain the 1:1 USDT to the US dollar parity.