P2P Messaging Apps Offer an Unparalleled Level of Privacy but Some Limitations Still Exist
Thursday,11/07/2024|12:00GMTby
FM
Most P2P messaging apps currently face a significant limitations.
Over the past decade, individual data privacy has been under siege like never before. In fact, just earlier this year, a major data breach exposed millions of two-factor authentication (2FA) codes associated with leading messaging platforms such as WhatsApp. In response to these repeated incidents, peer-to-peer (P2P) messengers have quickly emerged as a silver lining for individuals seeking secure communication avenues — since these apps promise direct, encrypted connections between users, free from the prying eyes of centralized entities.
However, despite their allure, most P2P messaging apps currently face a significant limitation, i.e. messages can only be exchanged when both parties are actively using the application — thus undermining their effectiveness in today's fast-paced world. This limitation stems from the very nature of P2P tech because, without a centralized server to store and forward messages, there's nowhere for a message to "wait" if the recipient is offline.
Consider a scenario where Dave wants to urgently ping Wendy using such an app. If Wendy’s device is turned off or her app isn't running, Dave’s message has nowhere to go. It can't be stored on a server (as there isn't one), and it can't reach the recipient device directly. As a result, the two parties have to wait until both are online concurrently, leading to a loss of critical communication windows.
This limitation in itself makes P2P messaging apps impractical for many real-world scenarios, especially in today’s world, where individuals often have to communicate through different time zones with varying schedules.
Decentralization could be the key
While the aforementioned limitation is undoubtedly significant, it is by no means unconquerable. In fact, the solution lies in robust decentralization, wherein a large, distributed network can act as a temporary custodian for messages, holding them securely until the recipient comes online. This approach combines the privacy of P2P communication while offering the same level of convenience as traditional messaging systems.
One platform actively using this approach is Session, a decentralized messager that combines several innovative modules and technologies to provide secure, private communication channels without compromising on everyday usability.
Session's operational methodology revolves around two key concepts. The application utilizes a decentralized network of community-operated nodes organized into small cooperative groups called ‘swarms.’ These swarms work together to store and route messages, ensuring delivery even if some nodes become unreachable.
To protect user privacy, Session employs a framework called ‘onion routing’ that obscures the origin and destination of each message. Every encrypted message is routed through three nodes in the network, making it virtually impossible for any single node to gather meaningful information about the users or their communications.
When a user sends a message, it's securely stored within the swarm network until the recipient comes online. The recipient's device then retrieves the message from the network, maintaining the privacy of both sender and receiver throughout the process.
The future of messaging
As traditional messaging services continue to face a barrage of security breaches and privacy concerns, the demand for more secure alternatives has been on the rise. For instance, in February 2023, a massive data leak affected WhatsApp, with reports suggesting that the development resulted in the personal data of nearly 500 million WhatsApp users (including phone numbers from 84 countries) being put up for sale on a hacking forum.
To elaborate, the breach included over 32 million US user records, 45 million from Egypt, and significant numbers from Italy, Saudi Arabia, France, and Turkey. Similarly, Asian messaging behemoth Line also faced similar issues earlier in 2024 when miscreants were able to steal the personal information of 440,000 users, 86,000 business partners, and 51,000 employees.
Lastly, experts discovered a vulnerability in Telegram's voice call feature (back in October 2023) that exposed user IP addresses during calls. Despite Telegram's emphasis on security, the issue highlighted the ever-present risks associated with messaging services controlled by a single entity.
Therefore, moving forward, the adoption of non-local messaging platforms like Session is likely to accelerate. By combining the best of both worlds — i.e. P2P privacy and ease of use — these platforms are offering users a robust solution that stands to herald a major revolution within the global messaging landscape. Interesting times ahead!!
Over the past decade, individual data privacy has been under siege like never before. In fact, just earlier this year, a major data breach exposed millions of two-factor authentication (2FA) codes associated with leading messaging platforms such as WhatsApp. In response to these repeated incidents, peer-to-peer (P2P) messengers have quickly emerged as a silver lining for individuals seeking secure communication avenues — since these apps promise direct, encrypted connections between users, free from the prying eyes of centralized entities.
However, despite their allure, most P2P messaging apps currently face a significant limitation, i.e. messages can only be exchanged when both parties are actively using the application — thus undermining their effectiveness in today's fast-paced world. This limitation stems from the very nature of P2P tech because, without a centralized server to store and forward messages, there's nowhere for a message to "wait" if the recipient is offline.
Consider a scenario where Dave wants to urgently ping Wendy using such an app. If Wendy’s device is turned off or her app isn't running, Dave’s message has nowhere to go. It can't be stored on a server (as there isn't one), and it can't reach the recipient device directly. As a result, the two parties have to wait until both are online concurrently, leading to a loss of critical communication windows.
This limitation in itself makes P2P messaging apps impractical for many real-world scenarios, especially in today’s world, where individuals often have to communicate through different time zones with varying schedules.
Decentralization could be the key
While the aforementioned limitation is undoubtedly significant, it is by no means unconquerable. In fact, the solution lies in robust decentralization, wherein a large, distributed network can act as a temporary custodian for messages, holding them securely until the recipient comes online. This approach combines the privacy of P2P communication while offering the same level of convenience as traditional messaging systems.
One platform actively using this approach is Session, a decentralized messager that combines several innovative modules and technologies to provide secure, private communication channels without compromising on everyday usability.
Session's operational methodology revolves around two key concepts. The application utilizes a decentralized network of community-operated nodes organized into small cooperative groups called ‘swarms.’ These swarms work together to store and route messages, ensuring delivery even if some nodes become unreachable.
To protect user privacy, Session employs a framework called ‘onion routing’ that obscures the origin and destination of each message. Every encrypted message is routed through three nodes in the network, making it virtually impossible for any single node to gather meaningful information about the users or their communications.
When a user sends a message, it's securely stored within the swarm network until the recipient comes online. The recipient's device then retrieves the message from the network, maintaining the privacy of both sender and receiver throughout the process.
The future of messaging
As traditional messaging services continue to face a barrage of security breaches and privacy concerns, the demand for more secure alternatives has been on the rise. For instance, in February 2023, a massive data leak affected WhatsApp, with reports suggesting that the development resulted in the personal data of nearly 500 million WhatsApp users (including phone numbers from 84 countries) being put up for sale on a hacking forum.
To elaborate, the breach included over 32 million US user records, 45 million from Egypt, and significant numbers from Italy, Saudi Arabia, France, and Turkey. Similarly, Asian messaging behemoth Line also faced similar issues earlier in 2024 when miscreants were able to steal the personal information of 440,000 users, 86,000 business partners, and 51,000 employees.
Lastly, experts discovered a vulnerability in Telegram's voice call feature (back in October 2023) that exposed user IP addresses during calls. Despite Telegram's emphasis on security, the issue highlighted the ever-present risks associated with messaging services controlled by a single entity.
Therefore, moving forward, the adoption of non-local messaging platforms like Session is likely to accelerate. By combining the best of both worlds — i.e. P2P privacy and ease of use — these platforms are offering users a robust solution that stands to herald a major revolution within the global messaging landscape. Interesting times ahead!!
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
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Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
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