Miners/jewelers - lit protocol meeting notess

Lit protocol meaning

Building middleware between onchain/offchain platforms

  • Where they are
    • Alpha of technology is ready to go
    • You can have your product and gate authorization behind javascript web token
    • Their protocol verifies and validates specific users
  • We do have to rely on them
    • They support static and dynamic data
  • SDK
    • JS SDK
    • When a user wants to decrypt data, they sign a message with their wallet, connect to all the nodes, send the signature to the nodes and request the signature
    • Every node has its own share of a private key, as long as 2/3 of nodes sign off you can combine on client side to get the decryption key
    • One function per operation
    • Javascript web token can also be used to gate access to an API
  • How do you make money?
    • Right now it’s free, in the future the network will charge a network token to store the conditions
  • What does a condition cover?
    • One external resource.
  • Not quite ready for node operators but getting there
    • It’s free
  • Can enforce conditions on dynamic conditions