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WiMi Announced Weighted PBFT to Improve Blockchain Cross-Chain Consensus Algorithm and Enhance Security and Stability of Blockchain System

PRNewswire 12-Feb-2024 11:30 AM

BEIJING, Feb. 12, 2024 /PRNewswire/ -- WiMi Hologram Cloud Inc. (NASDAQ:WIMI) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR") Technology provider, today announced that in order to further improve the performance of blockchain, the cross-chain consensus algorithm for blockchain is optimized and improved, and the weighted PBFT algorithm is introduced. The algorithm is designed to increase throughput, reduce latency and enhance fault-tolerant performance, and the consensus algorithm is targeted to be improved according to the specific use scenarios of the blockchain. The weighted PBFT algorithm is an improved algorithm based on the practical byzantine fault tolerance (PBFT) algorithm, which is made more flexible and efficient by introducing weights. In the weighted PBFT algorithm, each node is given a weight value which reflects the importance and capability of the node. During the operation of the algorithm, the node will decide the influence of its vote according to its weight value, thus affecting the final consensus result. By adjusting the weight value, the load and performance of the nodes can be better balanced to improve the overall efficiency and stability of the system.

The weighted PBFT algorithm is an efficient consensus algorithm designed to increase throughput, reduce latency and enhance fault-tolerant performance. It makes targeted improvements to the consensus algorithm based on specific blockchain usage scenarios, enabling the blockchain system to remain efficient and stable when dealing with a large number of transactions.

In traditional consensus protocols, communication interactions between nodes can lead to massive network congestion, affecting the consistency efficiency of the algorithm. To solve this problem, WiMi adopts a weighted PBFT algorithm to optimize the consensus protocol by combining the characteristics of the coalition chain. The algorithm introduces an integration mechanism and a boosting mechanism to ensure that the algorithm can quickly recover to its optimation when Byzantine nodes appear in the network, and execute the optimized consensus protocol most of the time.

PBFT is an algorithm used to solve the "Byzantine generals problem", where the consensus operation is accomplished through mutual communication between nodes. And the weighted PBFT algorithm is an improvement of PBFT, which makes the consensus process more efficient by introducing node weights. Through the weighted PBFT consensus mechanism, WiMi constructs a blockchain consensus environment and designs a cross-chain consensus optimization algorithm based on the distribution of nodes in the consensus domain, which further reduces the throughput and delay and optimizes the consensus effect.

The specific steps of the blockchain cross-chain consensus algorithm based on weighted PBFT proposed by WiMi are as follows: firstly, the initialization node operation is carried out, and the client sends a transaction request to the master node. The master node receives the request and numbers the request message, and then executes the optimized consistency protocol. All consensus nodes execute this optimized protocol. In the acknowledgement phase, the system determines the status of the consistency nodes. The master node receives feedback messages from all consensus nodes, judges their correctness, and compares them with local pre-prepared messages to determine whether the values of the corresponding fields are the same. Once a message is tampered with, its hash value will change. Therefore, the system performs the corresponding operations according to the different comparison results. Finally, the master node will perform node upgrading based on the integration of the nodes to update the consensus node set and candidate node set to ensure that the consensus nodes with high probability are honest nodes. The optimization continues in the next consensus process.

The weighted PBFT algorithm allows the blockchain system to remain efficient while processing transactions. This algorithm not only improves the throughput and reduces the delay of the system, but also enhances the fault tolerance performance. In addition, through the integration and boosting mechanisms, the weighted PBFT algorithm is able to quickly respond to abnormal situations in the network and ensure data consistency and security. It makes the consensus process more efficient by introducing node weights, and also greatly improves the security and stability of the blockchain system. The application of the weighted PBFT algorithm will further promote the development of blockchain technology and improve the performance and reliability of blockchain.

In the future, WiMi will continue to focus on the development of blockchain technology, actively explore new application scenarios and technological innovations, provide more efficient, secure and reliable blockchain solutions for various industries, and promote the popularization and application of blockchain technology.

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.