BEIJING, July 12, 2023 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” or the “Company”), a leading global Hologram Augmented Reality (“AR”) Technology provider, today announced a blockchain distributed storage framework that presents a pooling algorithm and inverse process for IPFS-based DAPP schemes. The combination of DAPP with IPFS allows for a lightweight layout. By putting the static resources, data storage layer, distributed database, communication layer, and other parts of DAPP into the IPFS network, the data storage pressure on the chain can be effectively reduced, and the performance and availability of DAPP can be improved. In the implementation process, the IPFS network can be operated through the IPFS API to realize the interaction and communication between DAPP and IPFS.
The IPFS-based DAPP solution proposes a solution for data storage on the blockchain. It can store files and put unique and permanently available IPFS addresses into blockchain transactions. In this way, there is no need to put the space-hogging data on the blockchain. On the other hand, IPFS can also assist various blockchain networks in transferring information and files, thus increasing the scalability of the blockchain. Based on these advantages of IPFS, WiMi designed the main elements of the distributed pool, including the distributed storage phase and the invocation evidence phase.
The evidence phase is called to recover the original image by reversing the distributed pooling operation. After completing the distributed storage phase, it becomes easier to query the corresponding data hash address from the database. The distributed nature of IPFS makes the hash of the address uniquely trusted. Therefore, in the case of trusted nodes, the original data can be recovered using the inverse distributed pooling operation after confirming the correction of node addresses.
WiMi’s DAPP solution effectively solves the problem of insufficient storage space and reduces the cost of storage on the blockchain with the help of IPFS. By accessing the IPFS network, the data on the blockchain will become smaller, and therefore the storage space required by individual nodes will be reduced. Secondly, it greatly improves fault tolerance and can identify data stored in any node. In addition, the scheme can be recovered entirely losslessly, with no data lost from each node. Even if some information is lost, it can be retrieved proportionately to the information retained, which is helpful for excellent application capabilities.
With the rapid development of blockchain technology in these years, DAPP is also developing rapidly and will be the leading force in the application market. WiMi’s solution has significant market advantages and opportunities:
1. Reduced data storage cost: IPFS can be used as the distributed storage layer of DAPP, and the data will be stored in the IPFS network in a decentralized manner, which can reduce data storage costs and improve the availability and stability of DAPP.
2. Improved data access speed: Static resources in DAPP can be stored in the IPFS network, and you can locate these resources through IPFS Hash. This can improve the data access speed and reduce the data storage pressure of DAPP on the chain.
3. Improved data privacy: IPFS uses distributed storage, which allows data to be stored on multiple nodes, enhancing data privacy and reducing the risk of data leakage.
4. Better development experience: Using IPFS allows developers to focus more on developing business logic during the development of DAPP without paying too much attention to the implementation and maintenance of infrastructure, thus improving development efficiency and development experience.
With the popularity of decentralized applications and the development of blockchain technology, WiMi’s technical solution can bring a better experience and services to various participants in the blockchain ecosystem (such as users, developers, enterprises, etc.). At the same time, it also provides a better technical basis for developing new types of decentralized applications. WiMi’s lightweight advantage can bring many benefits and market opportunities, including reducing data storage costs, increasing data access speed, improving data privacy, providing a better development experience, and opening up new market opportunities.
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
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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.
