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WiMi Developed a Payment Channel Rebalancing Model for Layer-2 Blockchain

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WiMi Hologram Cloud Inc. (NASDAQ: WIMI) has developed a layer-2 blockchain payment channel rebalancing model technology. This innovative solution aims to increase transaction speed and reduce costs without compromising main chain security. The model utilizes:

1. A two-layer network structure
2. Smart contracts for channel management
3. Multi-signature wallets for transactions
4. Automated rebalancing mechanisms
5. Advanced security measures

The technology is designed to improve efficiency in high-frequency payment scenarios, ensure liquidity, and operate across different blockchain platforms. WiMi believes this model could become a significant development in financial technology, potentially contributing to financial inclusion and providing more convenient, secure, and cost-effective payment experiences.

WiMi Hologram Cloud Inc. (NASDAQ: WIMI) ha sviluppato una tecnologia di modello di riequilibrio dei canali di pagamento su blockchain di layer-2. Questa soluzione innovativa mira ad aumentare la velocità delle transazioni e a ridurre i costi senza compromettere la sicurezza della catena principale. Il modello utilizza:

1. Una struttura di rete a due strati
2. Smart contract per la gestione dei canali
3. Portafogli multi-firma per le transazioni
4. Meccanismi di riequilibrio automatico
5. Misure di sicurezza avanzate

La tecnologia è progettata per migliorare l'efficienza in scenari di pagamento ad alta frequenza, garantire liquidità e operare su diverse piattaforme blockchain. WiMi ritiene che questo modello possa diventare uno sviluppo significativo nella tecnologia finanziaria, potenzialmente contribuendo all'inclusione finanziaria e fornendo esperienze di pagamento più convenienti, sicure ed economiche.

WiMi Hologram Cloud Inc. (NASDAQ: WIMI) ha desarrollado una tecnología de modelo de equilibración de canales de pago en blockchain de capa 2. Esta solución innovadora tiene como objetivo aumentar la velocidad de las transacciones y reducir costos sin comprometer la seguridad de la cadena principal. El modelo utiliza:

1. Una estructura de red de dos capas
2. Contratos inteligentes para la gestión de canales
3. Billeteras de múltiples firmas para las transacciones
4. Mecanismos de equilibración automáticos
5. Medidas de seguridad avanzadas

La tecnología está diseñada para mejorar la eficiencia en escenarios de pago de alta frecuencia, garantizar liquidez y operar en diferentes plataformas blockchain. WiMi cree que este modelo podría convertirse en un desarrollo significativo en la tecnología financiera, contribuyendo potencialmente a la inclusión financiera y proporcionando experiencias de pago más convenientes, seguras y rentables.

WiMi 홀로그램 클라우드 주식회사 (NASDAQ: WIMI)는 레이어-2 블록체인 결제 채널 재조정 모델 기술을 개발했습니다. 이 혁신적인 솔루션은 거래 속도를 높이고 비용을 줄이는 동시에 메인 체인의 보안을 손상시키지 않는 것을 목표로 하고 있습니다. 이 모델은 다음을 활용합니다:

1. 이중 네트워크 구조
2. 채널 관리를 위한 스마트 계약
3. 거래를 위한 다중 서명 지갑
4. 자동 재조정 메커니즘
5. 고급 보안 조치

이 기술은 고주파 결제 시나리오에서 효율성을 향상시키고, 유동성을 보장하며, 다양한 블록체인 플랫폼에서 작동하도록 설계되었습니다. WiMi는 이 모델이 금융 기술의 중요한 발전이 될 수 있으며, 금융 포용에 기여하고 더 편리하고 안전하며 비용 효율적인 결제 경험을 제공할 수 있을 것이라고 믿고 있습니다.

WiMi Hologram Cloud Inc. (NASDAQ: WIMI) a développé une technologie de modèle de rééquilibrage des canaux de paiement sur blockchain de niveau 2. Cette solution innovante vise à augmenter la vitesse des transactions et à réduire les coûts sans compromettre la sécurité de la chaîne principale. Le modèle utilise :

1. Une structure de réseau à deux niveaux
2. Des contrats intelligents pour la gestion des canaux
3. Des portefeuilles multi-signatures pour les transactions
4. Des mécanismes de rééquilibrage automatisés
5. Des mesures de sécurité avancées

La technologie est conçue pour améliorer l'efficacité dans les scénarios de paiement à haute fréquence, garantir la liquidité et fonctionner sur différentes plateformes blockchain. WiMi pense que ce modèle pourrait devenir un développement significatif dans la technologie financière, contribuant potentiellement à l'inclusion financière et offrant des expériences de paiement plus pratiques, sûres et rentables.

WiMi Hologram Cloud Inc. (NASDAQ: WIMI) hat eine Technologie für ein Rebalancing-Modell von Zahlungskanälen auf einer Layer-2-Blockchain entwickelt. Diese innovative Lösung zielt darauf ab, die Transaktionsgeschwindigkeit zu erhöhen und Kosten zu senken, ohne die Sicherheit der Hauptkette zu gefährden. Das Modell nutzt:

1. Eine zweischichtige Netzwerkstruktur
2. Smart Contracts zur Kanalverwaltung
3. Multisignatur-Wallets für Transaktionen
4. Automatisierte Rebalancing-Mechanismen
5. Fortschrittliche Sicherheitsmaßnahmen

Die Technologie ist darauf ausgelegt, die Effizienz in Hochfrequenz-Zahlungsszenarien zu verbessern, Liquidität sicherzustellen und über verschiedene Blockchain-Plattformen hinweg zu operieren. WiMi glaubt, dass dieses Modell eine bedeutende Entwicklung in der Finanztechnologie darstellen könnte, die möglicherweise zur finanziellen Inklusion beiträgt und bequemere, sicherere und kostengünstigere Zahlungserlebnisse bietet.

Positive
  • Development of innovative layer-2 blockchain payment technology
  • Potential for increased transaction speed and reduced costs
  • Designed for high-frequency payment scenarios
  • Cross-chain compatibility for wider application
  • Potential to contribute to financial inclusion and digital transformation
Negative
  • Faces challenges in technical security, regulatory compliance, and user acceptance
  • Success depends on market adoption and overcoming implementation hurdles

BEIJING, Aug. 8, 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 developed a layer-2 blockchain payment channel rebalancing model technology. By building an additional protocol layer on top of the main chain, the layer-2 network aims to increase transaction speed and reduce costs without sacrificing the security of the main chain. The payment channel technology, as an implementation of the layer-2 network, allows users to conduct transactions off-chain and interact with the main chain only at the beginning and end of a transaction, effectively reducing the number of on-chain transactions and providing a viable solution for high-frequency transactions.

WiMi believes that the efficient operation of a payment channel requires a mechanism to ensure the liquidity and continuity of transactions between the two parties to the channel, and this is where the rebalancing model comes in. The rebalancing model ensures that the payment channel can operate stably under various transaction scenarios by adjusting the allocation of funds between the two parties on a regular or on-demand basis. In addition, security is always a core consideration in payment system design. When designing a payment channel rebalancing model, advanced encryption technologies and security protocols must be employed to protect against potential security threats such as fraud, theft and cyber-attacks.

The secure payment channel rebalancing model for layer-2 blockchain is an innovative solution designed to improve the efficiency and security of transactions. First, the design of the two-layer network allows for a secondary layer to be built on top of the main chain, which is dedicated to processing many payment transactions. In this way, the primary chain avoids congestion caused by excessive transaction volumes, while maintaining its security and decentralized nature. The layer2 of the network manages the establishment, maintenance, and closure of payment channels through smart contracts to enable fast transaction processing. The establishment of a payment channel typically involves two counterparties who create a multi-signature wallet by depositing a certain amount of cryptocurrency on the main chain. This wallet acts as an intermediary between the two parties' transactions, and all payment operations take place within this channel and not directly on the main chain. This approach reduces the dependence on the main chain, thereby reducing transaction costs and time.

The rebalancing mechanism is a core part of the payment channel, which ensures that liquidity and funding are balanced in the channel. The rebalancing mechanism is triggered when one party needs more liquidity to process a transaction. This process may involve the transfer of funds from one participant to another, or the introduction of new funds into the channel from outside. Rebalancing can be accomplished through automated smart contracts that automatically perform rebalancing operations when a funding imbalance is detected.

Security is another key point of the payment channel rebalancing model. To protect transactions from fraud and attacks, this model utilizes multi-signature technology, which means that any transaction requires the signatures of all participants in the channel to be valid. In addition, the code of the smart contract undergoes a rigorous security audit to ensure that no vulnerabilities can be exploited. In addition, the model may also integrate a dispute resolution mechanism to deal with possible off-chain fraud. In the event of a dispute between participants, such as one party claiming that an unrecorded payment has occurred, the dispute resolution mechanism can step in and utilize predetermined rules and evidence to resolve the dispute.

In addition, to improve the flexibility and scalability of the system, the secure payment channel rebalancing model for the layer-2 blockchain is designed with compatibility with other blockchain technologies in mind. This means that the model can not only run on a specific blockchain platform, but also operate across chains to provide support for a wider range of application scenarios.

WiMi's secure payment channel rebalancing model of layer-2 blockchain realizes fast, safe, and automated payment processing by constructing a layer-2 network on top of the main chain and utilizing smart contracts, multi-signature technology, and dispute resolution mechanisms. This model not only improves transaction efficiency and reduces costs, but also ensures the stability of the payment channel and the liquidity of funds through the rebalancing mechanism and security design.

With the continuous progress of blockchain technology and the expansion of application scenarios, the secure payment channel rebalancing model of WiMi's layer-2 blockchain will likely become an important development direction in financial technology. The model not only improves the efficiency and security of transactions through smart contracts and rebalancing mechanisms, but also provides a practical solution for high-frequency payment scenarios. In the future, with the further development of technology and the in-depth demand of the market, the model is expected to realize wider application and promote the digital transformation of the financial industry. However, the development of any technology is not without challenges. During the implementation of the secure payment channel rebalancing model of the layer-2 blockchain, it is necessary to face various challenges, including technical security, regulatory compliance, and user acceptance. Therefore, when developing and deploying this model, enterprises must consider these factors comprehensively to ensure the feasibility and sustainability of their solutions.

In conclusion, the future of WiMi's layer-2 blockchain's secure payment channel rebalancing model is promising. As the global focus on financial inclusion and environmental sustainability increases, the model is expected to contribute to the realization of these social goals while providing efficient payment solutions. Through continuous technological innovation and optimization, the model is expected to become the mainstream method of financial transactions in the future, bringing users a more convenient, secure, and low-cost payment experience.

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 new technology developed by WiMi Hologram Cloud (WIMI)?

WiMi Hologram Cloud (WIMI) has developed a layer-2 blockchain payment channel rebalancing model technology, designed to increase transaction speed and reduce costs while maintaining main chain security.

How does WiMi's (WIMI) layer-2 blockchain payment technology work?

The technology uses a two-layer network structure, smart contracts for channel management, multi-signature wallets for transactions, and automated rebalancing mechanisms to improve efficiency and security in high-frequency payment scenarios.

What are the potential benefits of WiMi's (WIMI) new blockchain payment technology?

The technology aims to provide faster, more cost-effective transactions, improve liquidity in payment channels, enhance security, and offer cross-chain compatibility for wider application in financial technology.

What challenges does WiMi (WIMI) face with its new blockchain payment technology?

WiMi faces challenges in technical security, regulatory compliance, and user acceptance. The success of the technology depends on overcoming these hurdles and achieving market adoption.

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