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Lightning Labs launched the LSAT Protocol to pay for API access on the Lightning Network

Lightning Labs launched the LSAT Protocol to pay for API access on the Lightning Network

Lightning Labs has introduced the lightning Service Authentication Tokens (LSAT) authentication Protocol, which will allow third-party firms to provide paid APIs based on the Lightning Network.

Currently, to authenticate and pay for services on the Internet, users must enter their personal data, such as email address and payment card information. The LSAT Protocol allows you to get a receipt for any purchase in the service on the Lightning Network, which can also be used for authentication in this service.

“In essence, LSAT is a ticket received through Lightning for a specific service or resource,” said olaoluwa Osuntokun, technical Director of Lightning Labs.

Unlike the usual cookies used in browsers, LSAT contains credentials that can be verified cryptographically. Users do not need to enter an email address or credit card information when they pay for cloud storage or hosting services. Using LSAT will be easier and safer, since the server or service itself will not receive data about who paid for the service.

You can also use LSAT to launch paid APIs and track the use of software interfaces. Thus, instead of purchasing a subscription to the API service, the user will pay for the service that they received. For example, you can enter a similar system in streaming services.

Recall that the research division of the BitMEX exchange recently reported that the development of open source Bitcoin is mostly funded by Blockstream and Lightning Labs.