WiMi Announced GradingShard Blockchain Sharding Technology

BEIJING, April. 22, 2024 /PRNewswire/ -- WiMi Hologram Cloud Inc. (NASDAQ: WIMI) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced a GradingShard blockchain sharding technology. GradingShard sharding technology spreads the storage and computation pressure of the entire blockchain network to different nodes by dividing the blockchain network into multiple shards, each containing only a portion of the transaction records and information. Different from the traditional sharding technology, GradingShard introduces a new sharding selection algorithm, which scores nodes according to their computing and storage capabilities, and then selects the nodes with the highest scores to store and process the corresponding segments. In this way, it not only improves the performance and scalability of the entire blockchain network, but also avoids the situation where a few nodes monopolize the entire network.

The goal of The GradingShard blockchain sharding technology is to address the limitations of traditional blockchain systems in terms of scalability and performance. Traditional blockchain systems often face increased latency and decreased throughput when processing large amounts of transactions and data, which limits their widespread use in real-world applications.The GradingShard sharding technology divides the entire blockchain network into multiple slices and performs parallel processing within each slice, thus improving the throughput and performance of the system. In addressing the challenges in blockchain sharding technology, the keys to the GradingShard solution include the design of the sharding strategy, the improvement of the consensus mechanism, and the implementation of cross-shard communication.

Design of Sharding Strategy: GradingShard realizes efficient blockchain sharding by designing a reasonable sharding strategy. The strategy takes into account factors such as nodes' computing power, bandwidth and storage, as well as the network topology, and dynamically adjusts the slice size and inter-slice relationship, so that the load of each slice is balanced and the communication overhead among them is minimized.

Improvement of Consensus Mechanism: GradingShard improves the traditional consensus mechanism to adapt to the needs of sharding technology. By introducing VRF and VDF, GradingShard ensures that the consensus process for each slice is secure and reliable, and that consensus is reached quickly.

Cross-Slice Communication: GradingShard provides an efficient cross-slice communication mechanism that enables effective communication and fast data exchange and sharing between different slices. The mechanism utilizes inter-slice cross-authentication and secure channel technology to ensure the security and reliability of cross-slice communication.

The GradingShard blockchain sharding technology is a promising technological innovation that is expected to be applied in large-scale commercial applications. It can realize efficient blockchain sharding and improve the throughput and scalability of the whole system. At the same time, it maintains the decentralized nature of the blockchain and ensures the security and trustworthiness of transactions. It effectively solves the challenges in blockchain sharding technology and realizes a high-performance and scalable blockchain system. This will provide a more stable and reliable foundation for the development of blockchain applications and promote the application and development of blockchain technology in a wider range of fields.

In the future, WiMi's GradingShard sharding technology will be continuously optimized to meet the performance requirements in different scenarios. For example, WiMi will design flexible and configurable sharding strategies for the business characteristics of different industries. By adjusting the slice size, the relationship between slices, and the authority control between nodes, the blockchain system can be better adapted to the application needs of different industries. In addition, it will optimize the consensus mechanism to achieve a faster and more reliable consensus process. Meanwhile, the cross-chip communication mechanism is constantly optimized to achieve efficient and secure cross-chip data exchange, ensuring the security and reliability of cross-chip communication. Through continuous innovation and optimization, WiMi hopes to promote blockchain technology to play a greater role in large-scale commercial applications and bring unprecedented changes to various industries.

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

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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.

SOURCE WiMi Hologram Cloud Inc.