WiMi Developed a Blockchain-Based Integrated Architecture for Security Maintenance in Cloud Computing

Rhea-AI Summary

WiMi Hologram Cloud Inc. (NASDAQ: WIMI) has developed a blockchain-based integrated architecture for security maintenance in cloud computing. This innovative solution combines blockchain technology with cloud computing to create a secure and efficient cloud service environment. Key features include:

1. Homomorphic encryption for data privacy and integrity during processing
2. Byzantine fault-tolerant consensus mechanism for a distributed CSP network
3. Master hash verification to strengthen cross-node data authenticity confirmation

The architecture aims to address data integrity challenges in cloud computing and establish a trusted computing environment. By leveraging blockchain's tamper-proof characteristics and cloud computing's processing capabilities, WiMi's solution opens new possibilities for enhanced data security and trust in the digital economy.

Positive

• Development of an innovative blockchain-based architecture for cloud computing security
• Integration of homomorphic encryption for enhanced data privacy and integrity
• Implementation of Byzantine fault-tolerant consensus for improved network resilience
• Introduction of master hash verification for strengthened data authenticity

Negative

• None.

Tech Expert

WiMi's blockchain-based architecture for cloud security is an innovative fusion of two cutting-edge technologies. However, it's important to note that this is still in the development stage, not a market-ready product. The use of homomorphic encryption is particularly intriguing, as it allows computations on encrypted data, addressing a major cloud security concern. The Byzantine fault-tolerant consensus adds resilience against malicious actors, a critical feature in distributed systems.

While promising, the real-world performance and scalability of this system remain unproven. The complexity of implementing such a system across multiple cloud service providers could be challenging. Investors should view this as a long-term R&D effort rather than an immediate revenue generator. The potential impact on WiMi's business model and financials is unclear at this stage.

Market Research Analyst

The cloud computing security market is projected to reach $77.5 billion by 2026, growing at a CAGR of 13.7%. WiMi's blockchain-based solution taps into this expanding market, potentially positioning the company as an innovator in cloud security. However, competition in this space is fierce, with tech giants like IBM, Microsoft and Amazon already offering robust cloud security solutions.

WiMi's focus on integrating blockchain with cloud computing could differentiate it, but market adoption remains uncertain. The company's primary business in AR and holographic technologies seems disconnected from this new direction, raising questions about resource allocation and strategic focus. Investors should monitor how this initiative aligns with WiMi's core competencies and whether it can translate into tangible business growth.

BEIJING, Sept. 19, 2024 /PRNewswire/ -- WiMi Hologram Cloud Inc. (NASDAQ: WIMI) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced that it integrated cloud computing and blockchain technology, and developed a blockchain-based integrated architecture for security maintenance in cloud computing, aiming to create an ecosystem of cloud services that are both efficient and secure, providing a solid guarantee for data integrity and reliability.

The core of blockchain technology lies in its tamper-proof, thanks to its distributed ledger structure with strong encryption algorithms. Each block contains the hash value of the previous block, and any modification of the historical data will lead to changes in the hash value of the subsequent block, which will be quickly recognized by the network, effectively preventing illegal tampering of data. In addition, the consensus mechanism ensures the consistent recognition of the data state by all participating nodes in the network, further reinforcing the security of the system.

WiMi's blockchain-based integrated architecture for security maintenance in cloud computing integrates the advantages of blockchain technology into cloud computing architecture to build a secure and efficient cloud service environment. The solution utilizes the blockchain's tamper-proof characteristics and distributed consensus mechanism to ensure that data operations in the cloud environment are verifiable and tamper-proof throughout, making up for the shortcomings of the traditional cloud computing model in data protection. By introducing homomorphic encryption to safeguard data privacy and integrity during processing, combining the Byzantine fault-tolerant consensus to build a distributed CSP network, and adopting the master hash verification mechanism to strengthen the cross-node confirmation of data authenticity, it aims to provide users in various industries with both efficient and secure cloud computing services, and reshape the foundation of trust in the digital era. Its core modules include homomorphic encryption, Byzantine fault-tolerant consensus mechanism and main hash value verification.

Homomorphic encryption and data integrity: Utilizing homomorphic encryption allows data to be directly computed in an encrypted state without having to be decrypted first, which not only maintains the privacy of the data, but at the same time permits manipulation of the encrypted data without compromising its integrity. This technology ensures data integrity in all homomorphic encryption processes, even in multi-cloud environments.

Byzantine fault-tolerant consensus mechanism: In the face of a possible single point of failure or malicious behavior of Cloud Service Providers (CSPs), the scheme introduces the BFT consensus algorithm. This mechanism tolerates a certain percentage of faulty nodes (including malicious or failed nodes). It ensures that the network can agree and continue to operate even if some participants are dishonest. By constructing a distributed CSP network, participants are involved in the validation and processing of the data.

Master hash validation: For each completed round of computation, each CSP generates a master hash value for the data it processes and broadcasts it to other nodes in the network for validation. This process ensures that every step of data processing is monitored by the whole network, and any attempt to tamper with the data will be revealed because it cannot pass the hash value verification.

WiMi's blockchain-based integrated architecture for security maintenance in cloud computing not only solves the serious challenge of data integrity in cloud computing, but also lays a solid foundation for realizing a trusted computing environment. By combining the tamper-proof features of blockchain and the powerful processing capabilities of cloud computing, a path to higher levels of data security and trust is opened. In the future, with the continuous maturation of technology and the broadening of application scenarios, the fusion model of cloud computing and blockchain technology is expected to become a new driving force to promote the safe development of the digital economy and protect data assets.

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 the main purpose of WiMi's new blockchain-based architecture for cloud computing?

WiMi's blockchain-based architecture aims to enhance security maintenance in cloud computing by ensuring data integrity, privacy, and reliability through the integration of blockchain technology with cloud services.

How does homomorphic encryption contribute to WiMi's (WIMI) cloud computing security solution?

Homomorphic encryption in WiMi's solution allows for computations on encrypted data without decryption, maintaining data privacy and integrity throughout the processing in cloud environments.

What role does the Byzantine fault-tolerant consensus mechanism play in WiMi's (WIMI) new architecture?

The Byzantine fault-tolerant consensus mechanism in WiMi's architecture creates a distributed CSP network that can tolerate a certain percentage of faulty or malicious nodes, ensuring continued operation and agreement among participants.

How does the master hash validation process work in WiMi's (WIMI) blockchain-based cloud security solution?

In WiMi's solution, each CSP generates a master hash value for processed data and broadcasts it to other network nodes for validation, ensuring network-wide monitoring of data processing and detecting any tampering attempts.