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Bitcoin Lightning Supercharged New Product by Bitfinex, Tether: What is Holepunch?



July 26, 2022

2 min read

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New platform is set to inject new life into the very concept of peer-to-peer Web3 applications and unlock new opportunities for digital enthusiasts.

Holepunch platform by Bitfinex and Tether debuts with Keet app

According to the official statement shared by Tether Limited today, on July 25, 2022, a new product has been launched as a result of the collaboration between stablecoin operator Tether, crypto exchange Bitfinex, and developers studio Hypercore.

New protocol, dubbed Holepunch, won’t rely on any single blockchain. Instead, it will provide a secure and reliable technical basis for peer-to-peer communication between Internet users across the globe.

Keet, an encrypted video calling application, is the first software program to run on a newly-launched Holepunch. In its inaugural version, Keet is designed for real-time audio/video calls, text chat and file sharing.

Funding for new solutions is exclusively provided by Tether and Bitfinex, while Paolo Ardoino has been appointed as Chief Strategy Officer.

Bitcoin Lightning channels on fire

Bitcoin Lighting, a second-layer protocol on the top of Bitcoin (BTC) nodes, will provide Holepunch with a low-cost decentralized payments system.

Also, the protocol will support the U.S. Dollar Tether (USDT) stablecoin as its key payment method.

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Release of Holepunch coincided with dramatic upsurge of Lightning usage by Bitcoin (BTC) nodes. According to the data shared by automated tracking systems, Lighting Network channels’ aggregated volume jumped by 10 per cent.

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July 26, 2022

2 min read