What Is Lit Protocol?
Lit Protocol is a decentralized network and platform for managing keys and running code for various applications. It leverages threshold cryptography to enhance privacy and immutability while providing end users autonomy.
Background
David Sneider founded Lit Protocol in 2021.
How It Works
Lit Protocol is built on contemporary work in applied cryptography, secure enclaves, and distributed systems. This foundation allows developers to create apps with private data, easy-to-use wallet onboarding, asset management experiences, and immutable serverless functions that operate according to set rules.
Developers use the Lit SDK to build their apps. Lit Protocol can be used for diverse web3 applications, including DeFi (with features such as conditional transaction execution and Infrastructure for recurring payments), Infrastructure (like cross-chain bridges and privacy-preserving transactions), Sovereign Data (providing programmable credential issuance), Web3 Social (enabling private data in social apps and on-chain reputation building), Gaming (offering seamless onboarding and condition-based rewards), and Token Gating for Web2 Apps (token-based access control for various platforms like Shopify and Google Drive).
Key Takeaways
- Lit Protocol is a decentralized network and platform for managing keys and running code for various applications.
- It uses threshold cryptography to enhance privacy, immutability, and user autonomy.
- The Lit Protocol has been founded by David Sneider in 2021.
- It is built on applied cryptography, secure enclaves, and distributed systems, allowing developers to create apps with private data and immutable serverless functions.
- Developers use the Lit SDK to build diverse web3 applications, including DeFi, Infrastructure, Sovereign Data, Web3 Social, Gaming, and Token Gating for Web2 Apps.
