WiMi Announced a Blockchain Consensus Mechanism Based on Improved Distributed Consistency and Hash Entropy

BEIJING, July 1, 2024 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” or the “Company”), a leading global Hologram Augmented Reality (“AR”) Technology provider, today announced a blockchain consensus mechanism based on improved distributed consistency and hash entropy. The consensus mechanism combines the advantages of a distributed consistency algorithm and hash entropy algorithm, aiming to improve the efficiency and security of the blockchain network. It uses an improved distributed consistency algorithm, which can achieve a consistent state for all nodes in the network through message passing and state synchronization between nodes. The distributed consistency algorithm is efficient, scalable and fault-tolerant, and can effectively solve the performance bottleneck and single-point-of-failure problems that exist in traditional consensus mechanisms. Traditional consensus algorithms are susceptible to attacks and delays in large-scale networks and malicious node environments, and the security and performance of blockchain systems can be improved by utilizing the improved distributed consistency algorithm and introducing more efficient message passing and inter-node communication mechanisms.

At the same time, the hash entropy algorithm is introduced to enhance the security of the consensus mechanism. The hash entropy algorithm utilizes the principle of cryptography and the characteristics of the hash function to encrypt and verify the transaction data in the blockchain to ensure the integrity and tamper-proof of the data. Hash entropy is an entropy indicator based on the hash function, which is used to assess the security and randomness of the blockchain. By introducing the hash entropy algorithm to improve the randomness and unpredictability of the data, it can effectively resist potential attacks and frauds and improve the security of the blockchain network.

The blockchain consensus mechanism based on improved distributed consistency and hash entropy has higher security, scalability and efficiency, and it is believed that it will play an important role in future blockchain applications and provide new ideas and methods for the development of distributed systems.

As the blockchain ecosystem continues to evolve, interoperability between different blockchain systems becomes increasingly important. In the future, WiMi will also work on designing mechanisms for cross-chain interoperability to enable seamless connectivity and data sharing between different blockchains. It will also explore ways to further enhance the security of the blockchain system, including resisting various attacks and malicious behaviors, and ensuring the reliability and stability of the system. Through further research and innovation, it is believed that the blockchain consensus mechanism based on improved distributed consistency and hash entropy will be more widely used in the future and contribute to the realization of a more secure, scalable and sustainable blockchain system.

The future blockchain consensus mechanism, based on the integration of the improved distributed consistency algorithm and the principle of hash entropy, will achieve a balance of greater efficiency, security and scalability. This mechanism will not only significantly improve transaction processing speed and reduce energy consumption, but also enhance the network’s ability to resist attacks and ensure data integrity and consistency. It will be widely used in finance, the Internet of Things, supply chain management and other fields to promote the development of the trust economy, build a more robust infrastructure for the digital society, and open a new era of decentralized applications.

About WIMI Hologram Cloud

WIMI Hologram Cloud, Inc. (NASDAQ:WIMI) is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.

Safe Harbor Statements

This press release contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook and quotations from management in this press release and the Company’s strategic and operational plans contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the US Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases, and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition, and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services.

Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and the current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement except as required under applicable laws.

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SOURCE WiMi Hologram Cloud Inc.