BEIJING, Feb. 16,
2024 /PRNewswire/ -- WiMi Hologram Cloud Inc.
(NASDAQ: WIMI) ("WiMi" or the "Company"), a leading global Hologram
Augmented Reality ("AR") Technology provider, today announced an
improved HBFT blockchain consensus algorithm for blockchains with
multiple independent functions, namely "MHConsensus algorithm". The
algorithm aims to achieve more efficient data management and
election strategies, and to provide a reliable distributed
consistency algorithm to cope with Byzantine faults that may occur
in distributed systems.
The Byzantine fault is a non-negligible problem in distributed
systems. It involves anomalies in the behavior of nodes, including
sending error messages, tampering with information, or being
unresponsive, which poses a serious threat to system stability. To
address this challenge, WiMi proposed the MHConsensus algorithm,
which is designed to ensure that the system can still reach a
unanimous consensus in the presence of a Byzantine fault. The
algorithm also addresses the consistency problem in distributed
systems. In distributed systems, due to network delays, node
failures, and other uncontrollable factors, data between different
nodes may be inconsistent, which becomes an urgent problem.
Unresolved consistency problems will seriously affect the
correctness and reliability of the system. The algorithm
effectively solves the consistency problem by introducing multiple
backup nodes. Each node has its own backup node, when a node needs
to update data, it will first send the update request to the backup
node and wait for the confirmation of the backup node. Before the
data update operation is executed, it must obtain confirmation from
most of the backup nodes. This design strategy aims to ensure the
consistency of the system even if some of the nodes fail or
experience network delays. The key to achieving this goal is to
precisely determine the number of backup nodes. Typically, this
number should be greater than the number of nodes that can fail in
the system. In this way, even if one node fails, the majority of
the backup nodes will still function properly, thus maintaining the
consistency of the system. This design concept fully demonstrates
the rigor and reliability of the algorithm.
In blockchain, the consensus mechanism is an important mechanism
to ensure that the nodes in a distributed system agree. The
algorithm achieves high throughput of the distributed system and
fast confirmation of transactions by dividing the nodes into
multiple channels and running the Byzantine fault tolerance
algorithm (BFT) in each channel. At the same time, the algorithm
also introduces a hierarchical structure to further divide the
nodes into master and slave nodes, where the master node is
responsible for handling the consensus process of the transaction,
while the slave nodes are responsible for verifying and storing the
transaction data. This hierarchical structure can improve the
scalability and fault tolerance of the system:
Consensus process: The algorithm realizes an efficient consensus
process through many channels and layered structure. The master
node performs transaction confirmation through BFT and packages the
confirmed transaction into blocks, which are then broadcasted to
the slave nodes for verification and storage. Slave nodes verify
the legitimacy of the transaction and add it to the local
blockchain. In this way, the entire consensus process can be
completed in a short period, thus increasing the throughput of the
system.
Security: In the BFT algorithm, each channel has a master node
responsible for handling the consensus process, and the nodes
guarantee the legitimacy of the transaction by verifying and
signing each other. Even if some of the nodes make mistakes, the
other nodes can still reach a consensus by majority, thus ensuring
the security of the system.
Scalability: The algorithm realizes the scalability of the
system by dividing the nodes into master and slave nodes through a
hierarchical structure. The master node is responsible for handling
the consensus process, while the slave nodes are responsible for
verifying and storing the transaction data. In this way, when the
number of nodes in the system increases, the processing capacity of
the system can be increased by adding slave nodes, thus realizing
the scalability of the system.
WiMi believes that the MHConsensus algorithm has a huge role to
play in transactions to ensure consistency and security of
transactions. Using this algorithm can achieve consistency of
transactions between multiple nodes in a distributed system,
provide a high level of security and protect sensitive information
during transactions from being tampered with or leaked.
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.
