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Off-the-Record (OTR) Messaging allows you to have private 
conversations over instant messaging by providing:

* Encryption
	No one else can read your instant messages.
* Authentication
	You are assured the correspondent is who you think it is. 
* Deniability
	The messages you send do not have digital signatures that
	are checkable by a third party. Anyone can forge messages
	after a conversation to make them look like they came from
	you. However, during a conversation, your correspondent is
	assured the messages he sees are authentic and unmodified. 
* Perfect forward secrecy
	If you lose control of your private keys, no previous 
	conversation is compromised.

WWW: http://www.cypherpunks.ca/otr/