WiMi Explores a Blockchain Sharding Storage Model for Multi-View Applications

Rhea-AI Summary

WiMi Hologram Cloud (NASDAQ: WIMI) announced the development of a blockchain sharding storage model optimized for multi-view data storage. The model divides blockchain networks into multiple independent 'shards' to improve scalability and processing speed. The system incorporates image splicing technology and IPFS (InterPlanetary File System) to reduce storage costs and enhance data accessibility.

The model features cross-shard communication for data synchronization and has applications across various industries, including media, healthcare, and IoT. In healthcare, it enables efficient storage of medical imaging data, while in IoT, it facilitates real-time processing of multi-sensor data streams.

Positive

• Development of innovative blockchain storage technology that could improve data processing efficiency
• Implementation of cost-reduction measures through image splicing technology
• Potential applications across multiple high-value industries (healthcare, IoT, media)

Negative

• None.

Insights

Tech Expert

This research into blockchain sharding storage for multi-view applications, while technologically interesting, appears to be primarily exploratory without any clear path to commercialization or revenue generation. The technology combines blockchain sharding with IPFS for distributed storage, targeting multi-view data applications like medical imaging and IoT. However, there are several concerns:

Key limitations:

• No mention of implementation timeline or commercial partnerships
• Lacks specific technical advantages over existing solutions
• No clear monetization strategy or market demand indicators
• Appears to be early-stage research without proven scalability

With WIMI's small market cap of $80.3M and focus on holographic AR technology, this research announcement represents a deviation from their core business without demonstrating clear strategic value or revenue potential. The market impact is likely to be minimal as this appears to be primarily a research initiative rather than a commercial product launch.

BEIJING, Nov. 27, 2024 /PRNewswire/ -- WiMi Hologram Cloud Inc. (NASDAQ: WiMi) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced that they are exploring a blockchain sharding storage model optimized specifically for the storage needs of multi-view data.

Sharding storage is an advanced architecture in blockchain technology that divides the blockchain network into multiple independent "shards," with each shard responsible for processing and storing a portion of the data. This approach can significantly improve the scalability and processing speed of the blockchain system, as data is no longer concentrated on a few nodes but is distributed across various parts of the network, thereby avoiding single-point bottlenecks. This method effectively alleviates the storage pressure on full nodes, as each node only needs to store and validate the data shard relevant to it, rather than the entire blockchain history.

In a multi-view data environment, an object may consist of information from multiple perspectives or levels, with complex interrelationships between these views. A sharding storage model needs to account for the multidimensional attributes of the data to ensure consistency across different views. This means that the information for each view must be properly stored and linked, allowing users to access complete information from any perspective.

To reduce storage costs, WiMi's blockchain sharding storage model incorporates image splicing technology, a strategy that divides large files into smaller chunks and stores them separately on IPFS (InterPlanetary File System). IPFS, a distributed storage network, leverages its decentralized nature to store different parts of a file across various nodes. This approach reduces the burden of centralized storage while enhancing data accessibility and redundancy. By doing so, it not only decreases the number of hash values stored on the blockchain but also lowers storage costs while maintaining data integrity and verifiability. 

Furthermore, for multi-view data, cross-shard communication is crucial to ensure synchronization and consistency between different views. WiMi's model features an efficient cross-shard communication mechanism that enables seamless data flow between shards while ensuring data security and privacy.

WiMi's blockchain sharding storage model for multi-view applications holds broad prospects across various industries. For example, in the media and entertainment industry, high-resolution video and audio files are often large and contain multiple view-related information, such as subtitles in different languages or audio tracks. By using a blockchain sharding storage model, such multimedia content can be stored and distributed efficiently, allowing users to select specific views based on their preferences. In the healthcare sector, medical imaging data like MRI and CT scans typically consist of multiple slices, with each slice representing a different view of a patient's health condition. Through blockchain sharding storage, doctors and researchers can quickly access specific views they need without downloading the entire dataset, saving time and resources. In the Internet of Things (IoT) domain, data streams generated by IoT devices often involve information from multiple sensors, creating multidimensional data views. A blockchain sharding storage model can facilitate real-time processing and storage of this data while reducing the storage demands on edge devices.

WiMi's blockchain sharding storage model for multi-view applications offers robust support for large-scale data applications by optimizing storage costs, improving data processing speeds, and enhancing the flexibility of data management. This innovative storage architecture not only addresses the scalability challenges of current blockchain technologies but also lays a solid foundation for future data-intensive application scenarios. As the technology continues to evolve and mature, we believe that the blockchain sharding storage model for multi-view applications will play a significant role across more industries, driving blockchain technology into broader application domains.

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 WiMi's new blockchain sharding storage model announced in November 2024?

WiMi announced a blockchain sharding storage model that divides blockchain networks into multiple independent shards, optimized for multi-view data storage, incorporating image splicing technology and IPFS to improve scalability and reduce storage costs.

How does WIMI's blockchain sharding storage model reduce costs?

The model reduces costs by incorporating image splicing technology that divides large files into smaller chunks and stores them separately on IPFS, decreasing the number of hash values stored on the blockchain while maintaining data integrity.

What industries can benefit from WIMI's blockchain sharding storage technology?

The technology can benefit multiple industries including media and entertainment (for multimedia content), healthcare (for medical imaging data), and IoT (for multi-sensor data streams).