BEIJING, Feb. 28,
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 new cryptocurrency payment system model
based on the Polygon blockchain after realizing the huge potential
of blockchain technology. The Polygon distributed ledger network
has the advantage of being fast, improving the performance of the
blockchain. The model, by combining the security of the
Bitcoin blockchain with the efficiency of the Polygon
distributed ledger network, provides users with a fast, secure and
low-cost alternative, making it an ideal choice for
micropayments.
The model focuses not only on the efficiency of payments, but
also on protecting the privacy and independence of users. By
managing user transaction data through a secure e-wallet, users can
enjoy the convenience of digital payments without sacrificing
privacy. The linked e-wallet utilizes advanced encryption
technology to ensure that the user's personal information and
transaction data are properly protected. This feature not only
improves payment security, but also provides users with a more
private online shopping experience.
Polygon blockchain benefits:
High throughput: Polygon blockchain greatly improves transaction
processing speed by adopting sidechain and multi-chain structures
to achieve high throughput. This feature allows small payments to
be confirmed in a short period, thus enhancing the user
experience.
Low transaction fees: Polygon's transaction fees are relatively
low compared to some mainstream blockchain networks. This enables
businesses and users to reduce costs when making digital payments,
prompting more people to adopt cryptocurrencies for
their transactions.
Payment diversity: Polygon supports multiple
cryptocurrencies, providing users with a wider range
of payment options. This diversity allows businesses to better meet
the needs of different users, thus increasing the flexibility of
the platform.
Based on Polygon, WiMi designed smart contracts to handle the
core logic of the payment system. Smart contracts are responsible
for managing user balances, processing transaction requests,
verifying payment information, and interacting with e-wallets. The
contracts are designed with security, efficiency and flexibility in
mind to meet the needs of different scenarios. To realize the
protection of user privacy and independence, WiMi's technical team
developed a secure e-wallet system. The wallet system is
responsible for storing users' cryptocurrency assets,
managing transaction records, and communicating securely with smart
contracts. The wallet system utilizes advanced encryption
technology to ensure that users' private keys and transaction
information are properly protected.
In addition, to solve the problem of long transaction
confirmation time in traditional blockchain networks, WiMi adopted
a fast transaction confirmation mechanism. By confirming on
Polygon, transactions can be validated more quickly, thereby
improving the real-time nature of the payment system. This may
involve other means to optimize transactions to ensure their
validity and security.
The payment system model framework supports multiple
cryptocurrencies, not just limited to
Bitcoin. By combining it with Polygon's multi-chain
structure, users can choose to make payments using different
cryptocurrencies. This increases the flexibility of
the system and the freedom of choice for users.
In the digital era, this cryptocurrency payment
system model based on the Polygon blockchain brings changes to the
e-commerce field. By taking full advantage of Polygon's high
throughput and low transaction fees, the model not only enables
fast, secure and convenient micropayments, but also emphasizes the
importance of user privacy and independence through a secure
e-wallet system. This promotes the wider application of
cryptocurrencies in e-commerce, providing users and
businesses with more choices and a superior payment experience.
The framework of this payment system model is based on the
Polygon blockchain, taking into account key components such as
smart contracts, e-wallet systems, multi-currency support and other
key components to form a comprehensive and efficient system.
Through strict implementation of security audits and testing, the
model not only meets users' expectations for fast and secure
payments, but also provides more competitive payment options for
businesses.
In the future, WiMi's Polygon-based payment system model will
continue to lead the development of e-commerce payments and promote
the widespread use of cryptocurrencies globally. The
curtain of the digital economy era has already opened, and we are
looking forward to more convenient, secure and diversified payment
methods.
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.