Lit Protocol

Lit Protocol is a developer of a decentralized, open-source utility platfrom designedplatform tothat provideprovides blockchain users access to digital and real-world experiences through encryption. This includes developinga decentralized access control infrastructure designed to bring more utility to the web network, using tokens, non-fungible tokens (NFTs), and blockchain identity as access keys. Lit Protocol's access controls protocols run atop most EVM chains, Cosmos, and Solana, and isare built to allow users to store private data on the open web securely and privately.

Lit Protocol has two main functions: decentralized acecssaccess control and decentralized cloud signing. On the side of access control, Lit Protocol focuses on who can read private and permissioned data stored on the open web, allowing users to store private data on the open web and use Lit to provision decentralized keys to users based on on-chain data (such as assets held in their wallet). As an application development network, Lit allows developers to create decentralized token-gated chats, where users have to own a specific key to access the chat. Some other applications and functions that can be achieved through Lit include the following:

• EncryptEncrypting and locklocking static content behind an on chainon-chain condition (for example, posessionpossession of an NFT)
• DecryptDecrypting static content that was locked behind an on chainon-chain condition
• AuthorizeAuthorizing network signatures that provide access to dynamic content (for example, a server or network resource) behind an on chainon-chain condition
• RequestRequesting a network signednetwork-signed JWT that provisions access and authorization to dynamic content behind an on chainon-chain condition.

With this functionality, Lit Protocol aims to give individuals agency in Web3 ecosystems in giving users private keys that are interoperable across decentralized finance, decentralized autonomous organizations, and non-fungible tokensNFTs. This is, in part, to meet the rise in demand for cross-chain interoperability that has occurred as blockchains continue to grow in popularity and use.

The LIT Protocol is a decentralized access control protocol running on top of Ethereum and other EVM chains. With LIT, you can do 4 main things:

Lit Protocol is a developer of a decentralized, open-source utility platfrom designed to provide blockchain users access to digital and real-world experiences through encryption. This includes developing decentralized access control infrastructure designed to bring more utility to the web network, using tokens, NFTs, and blockchain identity as access keys. Lit Protocol's access controls protocols run atop most EVM chains, Cosmos, and Solana, and is built to allow users to store private data on the open web securely and privately.

- Encrypt and lock static content behind an on chain condition (for example, posession of an NFT)

- Decrypt static content that was locked behind an on chain condition

- Authorize network signatures that provide access to dynamic content (for example, a server or network resource) behind an on chain condition

- Request a network signed JWT that provisions access and authorization to dynamic content behind an on chain condition.

Lit Protocol has two main functions: decentralized acecss control and decentralized cloud signing. On the side of access control, Lit Protocol focuses on who can read private and permissioned data stored on the open web, allowing users to store private data on the open web and use Lit to provision decentralized keys to users based on on-chain data (such as assets held in their wallet). As an application development network, Lit allows developers to create decentralized token-gated chats, where users have to own a specific key to access the chat. Some other applications and functions that can be achieved through Lit include:

• Encrypt and lock static content behind an on chain condition (for example, posession of an NFT)
• Decrypt static content that was locked behind an on chain condition
• Authorize network signatures that provide access to dynamic content (for example, a server or network resource) behind an on chain condition
• Request a network signed JWT that provisions access and authorization to dynamic content behind an on chain condition.

With this functionality, the LIT protocol enables the creation of locked NFTs that can only be unlocked by owners of that NFT. It also enables provisioning access to a given server or network resource only to NFT owners. Rather than a simple JPEG, LIT NFTs are HTML/JS/CSS web pages that can be interactive and dynamic.

Why Lit Protocol?

A secure and decentralized approach to access control.

There is no central authority that has access to what you gate with Lit Protocol. The network uses BLS threshold encryption.

The nodes of the Lit Protocol perform all their operations inside of a Trusted Execution Environment, so node operators can't snoop.

Lit Protocol is a decentralized service provider, and unlike centralized providers, there is no single point of failure.

With this functionality, Lit Protocol aims to give individuals agency in Web3 ecosystems in giving users private keys that are interoperable across decentralized finance, decentralized autonomous organizations, and non-fungible tokens. This is in part to meet the rise in demand for cross-chain interoperability that has occurred as blockchains continue to grow in popularity and use.