WiMi Deploys Cross-Chain Model Based on Relay Chain and Asynchronous Consensus Mechanism

Rhea-AI Summary

WiMi Hologram Cloud (NASDAQ: WIMI) has announced the development of a cross-chain model based on Relay Chain and asynchronous consensus mechanism. The model aims to create an efficient infrastructure for the metaverse by using the Relay Chain as a central bridge connecting multiple independent blockchains.

The Relay Chain coordinates communication between different blockchains, ensuring accurate data transmission and transaction validation. The system implements an asynchronous consensus mechanism to maintain consistency even during network delays or presence of malicious nodes.

This alliance chain cross-chain model enhances system robustness and decentralization while addressing challenges of handling large-scale data in the metaverse. The solution aims to improve scalability and interoperability of the metaverse ecosystem.

Positive

• Development of innovative cross-chain technology for metaverse infrastructure
• Implementation of advanced security features through Relay Chain
• Enhanced system scalability and interoperability capabilities

Negative

• None.

BEIJING, Dec. 16, 2024 /PRNewswire/ -- WiMi Hologram Cloud Inc. (NASDAQ: WiMi) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced that they have explored a cross-chain model based on the Relay Chain and asynchronous consensus mechanism. This innovative solution aims to build an efficient, secure, and flexible infrastructure for the metaverse.

The core of the cross-chain model studied by WiMi lies in the design of the Relay Chain. As a central component of the cross-chain model, the Relay Chain acts as a bridge connecting multiple independent blockchains (application chains). It is responsible for coordinating communication and transaction validation between different blockchains, ensuring accurate data transmission across chains. Through cross-chain gateways, the Relay Chain can identify and process requests from various application chains, achieving consistency and security in cross-chain transactions. Furthermore, the Relay Chain leverages its robust consensus mechanism to provide additional security for all connected application chains, reducing the impact of individual chain vulnerabilities on the entire ecosystem.

In traditional synchronous or partially synchronous consensus protocols, network latency and message transmission times directly impact system performance and security. To overcome these challenges, WiMi adopts an asynchronous consensus mechanism. In an asynchronous environment, the system can ensure eventual consistency even in the presence of network delays or malicious nodes. This means that all participating nodes, including those on application chains and the Relay Chain, can reach a consensus on transaction states under uncertain network conditions, ensuring the timeliness and reliability of transactions within the metaverse.

WiMi's alliance chain cross-chain model, based on the Relay Chain and asynchronous consensus mechanism, introduces the Relay Chain to coordinate different application chains and adopts an asynchronous consensus mechanism to enhance system robustness and decentralization. This model effectively addresses the challenges of handling large-scale data and commercial services in the metaverse while paving a new path to solving interoperability issues in multi-chain environments. By optimizing data transmission and transaction validation processes in multi-chain settings, the model not only enhances the scalability and interoperability of the metaverse ecosystem but also lays a more solid and secure foundation for the future digital economy. As the technology continues to evolve and improve, the cross-chain model is expected to play an increasingly significant role in future metaverse networks, helping to build a more open, inclusive, and secure digital world.

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.

FAQ

What is WIMI's new cross-chain model technology announced in December 2024?

WIMI announced a cross-chain model based on Relay Chain and asynchronous consensus mechanism, designed to build efficient infrastructure for the metaverse by connecting multiple independent blockchains.

How does WIMI's Relay Chain technology work in the cross-chain model?

The Relay Chain acts as a bridge connecting multiple blockchains, coordinating communication and transaction validation between different chains while ensuring accurate data transmission.

What advantages does WIMI's asynchronous consensus mechanism offer?

The asynchronous consensus mechanism ensures system consistency even during network delays or malicious node presence, improving transaction reliability and timeliness in the metaverse.

How will WIMI's cross-chain model impact the metaverse ecosystem?

The model enhances scalability and interoperability of the metaverse ecosystem while providing a more secure foundation for the digital economy through optimized data transmission and transaction validation.