Tether, Bitfinex, and Hypercore team up to launch encrypted P2P apps

Crypto exchange Bitfinex has partnered Tether (USDT) and Hypercore to launch a fully encrypted platform, Holepunch.

Holepunch was made for building peer-to-peer applications.

The trio also launched Keet, an encrypted application capable of facilitating real-time audio and video calls, text chat and file sharing.

With Holepunch, there would be control over data while breaking technology monopolies.

Tether and Bitfinex funded the development of the Holepunch platform.

Holepunch currently operates as a closed source protocol in its alpha or pre-release phase, which will be moved to open source code by the end of 2022.

Holepunch will not use blockchain technology at its core and will instead move to an in-house payments API powered by the Lightning Network.