Company Announcements

BEIJING , Nov. 20, 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 actively exploring consensus algorithms for blockchain-based Internet of Things (IoT) applications, aiming to address the compatibility issues between IoT devices and blockchain networks.

The consensus algorithm for blockchain-based Internet of Things applications can be dynamically adjusted based on the specific requirements of the IoT. For example, parameters such as block size and transaction confirmation time can be adjusted to accommodate different application scenarios and performance needs. By optimizing key parameters that impact scalability and throughput, it ensures fast data processing capability and low-latency response even under heavy network load. The selection of master nodes and validation nodes is done through an anonymous mechanism, which enhances the network's resistance to attacks while protecting the identity information of the nodes, thus strengthening the overall security of the system.

The consensus algorithm for blockchain-based Internet of Things applications, researched by WiMi, not only solves the compatibility challenges between IoT devices and blockchain networks, but also opens up vast development opportunities for future IoT applications. With the continuous evolution of technology, the integration of IoT and blockchain will give rise to more innovative applications and drive the prosperity of the digital economy. For example, in supply chain management, IoT can monitor the real-time logistics status of products, while blockchain can ensure the authenticity and tamper resistance of this data, thereby improving the transparency and efficiency of the supply chain. In smart cities, IoT can collect various urban operational data, while blockchain can provide a secure and reliable platform for storing and analyzing this data, helping city administrators make more scientific and accurate decisions. The integration of IoT and blockchain is a trend that will bring more convenience and possibilities to our lives. In the future, the combination of IoT and blockchain will demonstrate its immense potential and value in more fields.

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.