Lit Protocol is a decentralized network providing programmable key management and encryption services for digital assets and data. It enables developers to build autonomous AI agents, facilitate blockchain interoperability, and secure user-owned data across various ecosystems. The protocol offers cryptographic trust layers for non-custodial wallet management, cross-chain operations, and secure computation.
Funding
$17.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+1Founders
Product
Problem
Managing digital identities and data across Web2 and Web3 ecosystems often requires users to expose sensitive information, creating security vulnerabilities and hindering interoperability between different platforms and blockchains. Existing key management solutions can be complex, requiring users to manage private keys and navigate different authentication methods for each platform.
Solution
Lit Protocol provides a decentralized key management and compute network that enables secure access control and confidential computation across various blockchain ecosystems and Web2 platforms. By leveraging multi-party computation (MPC) and threshold signature schemes (TSS), Lit distributes encrypted key shares across its network, eliminating the need for users to directly manage private keys. This approach allows users, agents, and smart devices to access wallets across chains, secured by familiar authentication methods like social logins or passkeys. Lit's programmable encryption allows for setting custom conditions to control access and perform compute over private data without exposing it, enabling secure interoperability and user-centric security.
Target Audience
The primary audience includes Web3 developers, decentralized application (dApp) creators, and enterprises seeking secure and interoperable solutions for managing digital identities, access control, and confidential data across different platforms and blockchains.
Features
- Decentralized key management using multi-party computation (MPC) and threshold signature schemes (TSS)
- Universal wallet onboarding secured by social logins, passkeys, or custom integrations
- Support for various blockchains including Bitcoin, EVM, Solana, Cosmos, and Move
- Programmable encryption with custom conditions for access control
- Compute over secrets: process and analyze encrypted data securely
- Lit Actions: build scalable, interoperable products using JavaScript to communicate with any platform or crypto network
- Support for single-session keys, eliminating repeated authentication
- Claimable wallets provisioned from familiar identities like email addresses or phone numbers