BEIJING, Feb. 26,
2024 /PRNewswire/ -- WiMi
Hologram Cloud Inc. (NASDAQ: WIMI) ("WiMi" or the "Company"), a
leading global Hologram Augmented Reality ("AR") Technology
provider. As IoT applications continue to expand,
traditional security models may not be able to meet the challenges
of future digitalization needs. Enterprises are particularly
concerned about user data privacy, recognizing that privacy
breaches can have a huge impact on user trust and business
reputation. Therefore, WiMi's model focuses on protecting the data
privacy of transactions through Bitcoin and Ether
blockchain technology to ensure that user data is adequately
protected during network transmission. WiMi developed a
blockchain-based transaction data security model for large-scale
private networks. First, it is necessary to ensure that the
communication between nodes is secure against threats such as
attacks. Secondly, it is necessary to address the risk of privacy
leakage that a large amount of user data may suffer when it is
transmitted in the network. Most importantly, to realize all of
this in an IoT architecture, one needs to take into account the
possibility that nodes may not always be able to rely on each other
for critical communications.
WiMi utilized a combination of digital certificates, RSA-based
public key infrastructure and blockchain technology. Digital
certificates and public key infrastructure ensure the security of
the communication channel, while blockchain technology is
introduced to enhance data integrity and network node protection.
This technology solution is designed to provide comprehensive
privacy protection and security for large-scale private
networks.
The model is based on Bitcoin and Ether, utilizing
mechanisms such as Proof of Work (PoW) and Proof of Stake (PoS) to
validate transactions and generate new blocks. This guarantees the
legitimacy of transactions and the overall robustness of the
network. The model ensures the integrity of the transaction data by
referencing the immutability of Bitcoin. Each block
contains a certain amount of transaction information, forming a
coherent chain that prevents data tampering and forgery. The model
introduces Ethernet's smart contract concept, which enables a more
flexible and automated transaction process through smart
contracts.
The large-scale private network transaction data security model
based on blockchain technology uses blockchain's peer-to-peer
encrypted links to ensure the security of data transmission. Each
node ensures the security of the encryption and decryption process
of the communication channel through the use of
Bitcoin and Ethereum cryptography.
Through the distributed ledger mechanism of Bitcoin
and Ether, the model ensures that each node has an identical,
up-to-date copy of the ledger. This helps to ensure data
consistency and traceability throughout the large private network.
Through the combined use of Bitcoin's PoW mechanism
and Ether's PoS mechanism, the model enables efficient verification
of transactions and the generation of new blocks. This improves the
resistance of the entire network to attacks and makes large private
networks more secure and reliable.
WiMi will continue to optimize and upgrade its large-scale
private network transaction data privacy and security model as
technology continues to evolve. The integration of emerging
technologies, such as quantum security and more advanced encryption
algorithms, will further enhance the security of the network. The
model is not only applicable to specific industries, but is also
expected to be a solution for building secure large-scale private
networks across industries. From finance and healthcare to
manufacturing and retail, secure large-scale private networks will
play a key role in various fields.
WiMi's blockchain technology will play a central role in the
data privacy and security model for LPN transactions. By deeply
integrating key technologies such as Bitcoin and
Ether, the model fully utilizes the immutability of blockchain, the
flexibility of smart contracts, and the trustworthiness of
distributed ledgers. This integrated use provides an efficient,
secure, and scalable technical framework for large-scale private
networks, further advancing the development of blockchain
technologies such as Bitcoin and Ether in practical
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.