BEIJING, March 20,
2024 /PRNewswire/ -- WiMi Hologram Cloud Inc.
(NASDAQ: WIMI) ("WiMi" or the "Company"), a leading global Hologram
Augmented Reality ("AR") Technology provider, today announced a new
technology aiming at improving the accuracy and reliability of
Bitcoin transaction validation to better meet the
growing market demand. The WiMi development team had in-depth
research and analysis of existing technologies for
Bitcoin transaction validation, gained a deep
understanding of their principles and operation mechanisms, and
combined them with the latest advances in formal validation
technology. By drawing on the theories and methods from symbol
semantics, execution models, model checkers, and other related
fields, WiMi develooped the technical framework of the
Bitcoin TrustBlock validator. The Bitcoin
TrustBlock validator aims to harden the security of
decentralized applications (DApps). This
technology will bring unprecedented security and reliability to the
cryptocurrency community, advancing the development of
DeFi and other areas.
The TrustBlock validator is a Bitcoin-based
automated validation technology designed to review and validate
scripting programs used by Bitcoin exchanges for
security and correctness. The technology combines symbolic
semantics and execution models, utilizing a model checker and
modular validator to enable comprehensive verification of script
code, thereby minimizing potential security risks and
vulnerabilities.
The TrustBlock validator employs symbolic semantics and
execution models to understand and interpret scripted programs in
Bitcoin transactions. With symbolic semantics, the
validator can abstractly represent script code and transform it
into a symbolic execution for subsequent analysis and verification.
The execution model, on the other hand, defines how script programs
are executed in the Bitcoin network, including the
inputs and outputs of scripts, the order of execution, etc.
In addition, the TrustBlock Validator includes a model checker
for comprehensive formal validation of Bitcoin
transactions. The model checker checks whether the scripting
program in a transaction is secure and correct. By running the
model checker, potential problems in transactions can be found and
fixed promptly, thus improving the security and reliability of
transactions. Utilizing a modular validator architecture, the
TrustBlock validator breaks down the validation process into
multiple independent modules, each of which is responsible for
validating specific aspects. This modularized design makes the
validator more flexible and extensible, allowing it to flexibly
combine and configure different validation modules as needed to
adapt to different application scenarios and requirements.
Unlike traditional Bitcoin transaction validation
methods, the TrustBlock validator can more accurately determine the
legitimacy and validity of transactions by taking into account
historical transaction records and account status. The TrustBlock
validator has powerful analytical capabilities to minimize errors
and risks in the validation process. Through in-depth analysis of
the various parameters and conditions involved in a transaction,
the validator can identify potential security loopholes and errors,
to make timely repairs and improvements.
WiMi's TrustBlock verification appliance has several outstanding
advantages over traditional methods of verifying
Bitcoin transactions. First, it employs the latest
formal verification technology to verify complex protocols and
decentralized applications, providing users with a
broader range of applications. Second, the TrustBlock validator
takes into account prior information in the ledger during the
validation process, which improves the accuracy and reliability of
the validation. The technology also features enhanced analytics to
minimize errors and risks in the validation process. The
application port can be used to connect the Bitcoin
TrustBlock validator to real-world applications, such as exchanges,
wallet applications, or other digital currency service providers'
platforms. This interface can be used to apply the verification of
the TrustBlock validator to the actual Bitcoin
transaction process to enhance the security and reliability of
transactions.
The Bitcoin TrustBlock validator marks a
breakthrough in the field of Bitcoin transaction
validation. Through a combination of technical tools such as
symbolic semantics and execution models, model checkers,
consideration of prior information in the ledger, and enhanced
analytics, the TrustBlock validator enables comprehensive
validation of Bitcoin transactions, providing a strong
guarantee of transaction security and reliability. The technology
not only advances the security and reliability of
Bitcoin transactions, but also provides new impetus
for the development of decentralized applications and
blockchain technology.
WiMi's TrustBlock validator will bring the digital currency
community a safer and more reliable trading environment, increasing
the trust and reliance of digital currency users and investors. By
integrating the application port into real-world application
scenarios such as exchange platforms, wallet applications, digital
currency service providers' platforms, and smart contract
platforms, the TrustBlock validator can provide users with a more
secure and reliable digital currency service, and promote healthy
development of the digital currency market.
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.
