Ethereum Foundation Introduces zkAPI for Private API Payments

The Ethereum Foundation has announced zkAPI, a new system for private API payments. This innovation separates users' identities from their API usage and payment information.

Currently operating on the mainnet of the Ethereum network, zkAPI was jointly developed by the Open Anonymity Project and the Ethereum Foundation. It is designed to address the issue of privacy in AI-based APIs. In current systems, API keys are linked to users' accounts, making it easier for providers to track users' activity.

zkAPI uses Zero-Knowledge Proofs (ZKP) to verify transactions without revealing users' identities or payment information. Users deposit funds into a smart contract on the Ethereum network and receive a private note, which is used for payment.