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WiMi unveils advanced blockchain data encryption tech

EditorNatashya Angelica
Published 2024-05-22, 01:10 p/m

BEIJING - WiMi Hologram Cloud Inc. (NASDAQ:WIMI), a prominent holographic AR technology provider, has revealed its latest innovation in blockchain data security, combining machine learning with fully homomorphic encryption (FHE). This new approach aims to bolster the protection of sensitive information on blockchain networks while preserving the inherent transparency and immutability that blockchains are known for.

The company's integration of FHE allows for computations on encrypted data without the need to decrypt it first, ensuring the privacy of sensitive data such as transaction details and user identities. This method maintains the encrypted state of the data throughout the computation process, making it possible to execute complex operations like machine learning models on encrypted data.

Moreover, WiMi's technology utilizes machine learning for dynamic key management, which enhances the security of data on the blockchain. This intelligent system can analyze various factors in real-time, such as network conditions and user behavior, to generate and update encryption keys, thereby improving their randomness and resistance to attacks.

The application of WiMi's technology extends across various blockchain scenarios, including privacy-protected transactions, private smart contracts, and secure cross-chain data exchanges. It ensures that sensitive information remains encrypted and visible only to authorized parties, thus safeguarding privacy. Moreover, the technology supports secure data sharing and collaboration in multi-chain environments.

WiMi's announcement underscores its commitment to advancing blockchain technology by providing robust data protection capabilities that align with the decentralized and transparent nature of blockchain systems.

This news is based on a press release statement from WiMi Hologram Cloud Inc. and reflects the company's latest strides in addressing the growing demand for enhanced security in blockchain applications.

InvestingPro Insights

As WiMi Hologram Cloud Inc. (NASDAQ:WIMI) continues to innovate in the blockchain security space, investors and industry watchers are keeping a close eye on the company's financial health and stock performance.

According to InvestingPro data, WiMi holds a market capitalization of approximately $90.35 million USD. The company's commitment to advancing blockchain technology is reflected in its research and development efforts, despite the challenges of not being profitable over the last twelve months, as indicated by a negative P/E ratio of -3.77.

One of the InvestingPro Tips highlights that WiMi holds more cash than debt on its balance sheet, which is a positive sign of the company's financial stability. Moreover, analysts anticipate sales growth in the current year, suggesting a potential upside for the company as it scales its innovative technologies. Still, investors should be aware of the high price volatility associated with WiMi's stock, as it can impact investment decisions.

For those considering an investment in WiMi, the company's recent price dynamics offer a mixed picture. While the price has seen a significant fall over the last three months, there has also been a strong return over the last month and a large price uptick over the last six months. This volatility underscores the importance of diligent research and consideration of market trends.

To gain further insights into WiMi and access additional InvestingPro Tips, interested parties can visit There are 9 additional tips available on InvestingPro, which can be accessed with a subscription. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

Investors and analysts will also be keeping an eye on the next earnings date, scheduled for June 26, 2024, to better understand the company's financial trajectory and the potential impact of its blockchain security innovations on revenue growth.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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