Encryption is matter in Web3 world and Lit Protocol expanding it to simple users and developers. The network is created to provide safe signing, encryption and data processing without centralized mediators.

There are a lot of opportunities for developers to build secure, decentralized applications that preserve user privacy, provide control over data and supports cross-chain interoperability.

Lit is using Multi-party computatios(MPC) and TSS (Threshold Signature Scheme) to divide parts of private key among network nodes. Lit allows ecnrypt data and give access to it only if user meet some conditions, for example token hold.

Wrapped keys supports different cryptographic algorithms as Ed25519, Taproot etc., that provides compatibility with different blockchains. 

Lit Agent Wallet is infrastructure for creating autonomous agents, which can be used to perform actions safely without centralized key management.

Fundraising 

Lit has raised $15.2M in 2022 within two rounds, Seed and Series A, lead by 1kx and Sfermion. In 2025, they’ve raised $1.5M through token sale on Legion platform.

Conclusion 

Lit Network nodes are running inside Trusted Execution Environment(TEE), where each node contains set of key shares and working in concert, reaching consensus to perform operations such as signing or decrypting data.

Use Cases 

Lit Protocol allows to create a Universal accounts, which can be used in any chain like Bitcoin, Solana etc. The private keys are managed by Lit Network and these wallets are always non-custodial.