Tether and Bitfinex launch P2P video chat app 'Pest'
Video chat app
Modified Date:- Published Date:-Categories: Cryptocurrency
Tether and Bitfinex launch P2P video chat app 'Pest'
Tether and Bitfinex have teamed up with software company Hypercore to launch a fully encrypted, peer-to-peer video chat application. Pest is the first app to be built on HolePunch, a platform that allows developers to incorporate Web3 applications. It will initially be available only on desktop, though all three companies anticipate that there will soon be a mobile app with "amazing" video quality.
Payments app is also in the works Holpunch, which is closed-source but expected to become open-source later this year, doesn't run on the blockchain but uses the Lightning Network, a "second-layer solution" Which speeds up bitcoin transactions while reducing costs. This will enable a payment app to be built on HolePunch, with the Tether stablecoin (USDT) supporting a default payment system.
At the end of May, USDT was integrated into Polygon, enabling 19,000 decentralized applications (DApps) to be used on the ecosystem. More investment dollars coming from Tether, Bitfinex and Hypercore have already put US$10 million into Holpunch, which could see tens of millions of dollars in further investments, he said.
The Pest app, like HolePunch, is free to use and is expected to be more private and secure than Web2 centralized peers like Zoom or Google Meet. This is because PEST users can make direct calls to another person's computer, with nothing stored on the server. As Mathias Boos, CEO of HolePunch put it, "This app is for everyone."
The first app built on Hole Punch, Pest is a fully encrypted, peer-to-peer video chat application that will initially be available only on desktop. The firms believe that this is the first step in a movement bringing decentralized interaction to an entire generation.