Ethereum launches private payments for API usage

• The Ethereum Foundation launched zkAPI on Ethereum mainnet for private, metered API payments.
• Users can deposit ETH or USDC into a vault and authorise spending with zero-knowledge proofs.
• The system separates payment identity from API usage, targeting AI, blockchain and other metered services.

Ethereum (ETH) has launched zkAPI, a system for private payments across metered application programming interfaces.

The Ethereum Foundation says zkAPI runs on mainnet and was built with the Open Anonymity Project.

The system lets users deposit credits into an Ethereum vault without linking payments to API requests.

Users can fund balances with ETH or USDC before generating zero-knowledge proofs for spending.

The server verifies payment without seeing the user's identity, deposit or specific balance.

zkAPI creates short-lived API keys capped by dollar amounts, while providers record actual usage through signed receipts.

The system targets AI services first, while also supporting blockchain RPC, media generation, VPNs and machine-to-machine services.

Following the update, ETH was trading up 1.6% at $2,748.12.