I'm trying to create a webservice client for Magento2 api. I would like to know whether Magento2 supports oauth2 or oauth1.0. Could someone clarify if Magento2 SOAP API also requires oauth process?

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  1. They are using 1.0 (from the dev docs):

Magento OAuth authentication is based on OAuth 1.0a, an open standard for secure API authentication. OAuth is a token-passing mechanism that allows a system to control which external applications have access to internal data without revealing or storing any user IDs or passwords.

In Magento, a third-party extension that uses OAuth for authentication is called an integration. An integration defines which resources the extension can access. The extension can be granted access to all resources or a customized subset of resources.

As the process of registering the integration proceeds, Magento creates the tokens that the extension needs for authentication. It first creates a request token. This token is short-lived and must be exchanged for access token. Access tokens are long-lived and will not expire unless the merchant revokes access to the extension.

  1. Yes it require OAuth process.

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