Ethereum's zkAPI Brings Private Payments to Mainnet

The Ethereum Foundation has launched its zkAPI on the mainnet, enabling private payments for AI models and metered APIs. This development is a result of a collaboration project between the Ethereum Foundation and the Open Anonymity Project.

Users can deposit ETH or USDC into a vault contract, creating a private balance not linked to their identity. A new system, zkAPI, has been introduced by the Ethereum Foundation on the Ethereum mainnet. With this new method, users can pay for AI models and other metered services anonymously.

The process is simplified for users by the developers. Users put tokens like ETH or USDC in a vault contract on Ethereum. Those funds are then changed to a private spendable balance through a cryptographic note. These notes represent money that can be spent by the user freely without being identified.