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HomeCryptoWiMi Announced a Bitcoin TrustBlock Validator Ensuring Secure and Reliable Transactions

WiMi Announced a Bitcoin TrustBlock Validator Ensuring Secure and Reliable Transactions

BEIJING, March 20, 2024 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” or the “Company”), a leading global Hologram Augmented Reality (“AR”) Technology provider, today announced a new technology aiming at improving the accuracy and reliability of Bitcoin transaction validation to better meet the growing market demand. The WiMi development team had in-depth research and analysis of existing technologies for Bitcoin transaction validation, gained a deep understanding of their principles and operation mechanisms, and combined them with the latest advances in formal validation technology. By drawing on the theories and methods from symbol semantics, execution models, model checkers, and other related fields, WiMi develooped the technical framework of the Bitcoin TrustBlock validator. The Bitcoin TrustBlock validator aims to harden the security of decentralized applications (DApps). This technology will bring unprecedented security and reliability to the cryptocurrency community, advancing the development of DeFi and other areas.

The TrustBlock validator is a Bitcoin-based automated validation technology designed to review and validate scripting programs used by Bitcoin exchanges for security and correctness. The technology combines symbolic semantics and execution models, utilizing a model checker and modular validator to enable comprehensive verification of script code, thereby minimizing potential security risks and vulnerabilities.

The TrustBlock validator employs symbolic semantics and execution models to understand and interpret scripted programs in Bitcoin transactions. With symbolic semantics, the validator can abstractly represent script code and transform it into a symbolic execution for subsequent analysis and verification. The execution model, on the other hand, defines how script programs are executed in the Bitcoin network, including the inputs and outputs of scripts, the order of execution, etc.

In addition, the TrustBlock Validator includes a model checker for comprehensive formal validation of Bitcoin transactions. The model checker checks whether the scripting program in a transaction is secure and correct. By running the model checker, potential problems in transactions can be found and fixed promptly, thus improving the security and reliability of transactions. Utilizing a modular validator architecture, the TrustBlock validator breaks down the validation process into multiple independent modules, each of which is responsible for validating specific aspects. This modularized design makes the validator more flexible and extensible, allowing it to flexibly combine and configure different validation modules as needed to adapt to different application scenarios and requirements.

Unlike traditional Bitcoin transaction validation methods, the TrustBlock validator can more accurately determine the legitimacy and validity of transactions by taking into account historical transaction records and account status. The TrustBlock validator has powerful analytical capabilities to minimize errors and risks in the validation process. Through in-depth analysis of the various parameters and conditions involved in a transaction, the validator can identify potential security loopholes and errors, to make timely repairs and improvements.

WiMi’s TrustBlock verification appliance has several outstanding advantages over traditional methods of verifying Bitcoin transactions. First, it employs the latest formal verification technology to verify complex protocols and decentralized applications, providing users with a broader range of applications. Second, the TrustBlock validator takes into account prior information in the ledger during the validation process, which improves the accuracy and reliability of the validation. The technology also features enhanced analytics to minimize errors and risks in the validation process. The application port can be used to connect the Bitcoin TrustBlock validator to real-world applications, such as exchanges, wallet applications, or other digital currency service providers’ platforms. This interface can be used to apply the verification of the TrustBlock validator to the actual Bitcoin transaction process to enhance the security and reliability of transactions.

The Bitcoin TrustBlock validator marks a breakthrough in the field of Bitcoin transaction validation. Through a combination of technical tools such as symbolic semantics and execution models, model checkers, consideration of prior information in the ledger, and enhanced analytics, the TrustBlock validator enables comprehensive validation of Bitcoin transactions, providing a strong guarantee of transaction security and reliability. The technology not only advances the security and reliability of Bitcoin transactions, but also provides new impetus for the development of decentralized applications and blockchain technology.

WiMi’s TrustBlock validator will bring the digital currency community a safer and more reliable trading environment, increasing the trust and reliance of digital currency users and investors. By integrating the application port into real-world application scenarios such as exchange platforms, wallet applications, digital currency service providers’ platforms, and smart contract platforms, the TrustBlock validator can provide users with a more secure and reliable digital currency service, and promote healthy development of the digital currency market.

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.

SOURCE WiMi Hologram Cloud Inc.

Originally published at https://www.prnewswire.com/news-releases/wimi-announced-a-bitcoin-trustblock-validator-ensuring-secure-and-reliable-transactions-302094750.html
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