Ethereum Foundation Introduces zkAPI for Private API Usage Credits
The Ethereum Foundation, in collaboration with the Open Anonymity Project, has launched zkAPI, a new system designed to separate payment from identity for metered API usage. This innovation allows users to deposit credits (such as ETH or USDC) into a vault contract on Ethereum, creating a private digital note that can be spent without revealing the user's identity or linking requests. When authorizing spending, the user's software generates a zero-knowledge proof, which confirms that a funded note covers the expense without disclosing the specific note, deposit, or individual. This mechanism ensures that while the API provider sees the requests and the payment layer records the spend, neither can link the two, addressing privacy concerns associated with traditional API usage where every call is tied to an account and payment method. The system is live on Ethereum Mainnet and offers a runtime-key mode to prevent payment intermediaries from accessing traffic data.
