WiMi Hologram Cloud Inc., a leading global Hologram Augmented Reality (“AR”) Technology provider, announced their active involvement in the research of smart contract-based cross-chain communication solutions, aiming to use smart contracts as a bridge for cross-chain communication. This will enhance interoperability between different blockchain platforms, enabling seamless communication and collaboration.
Smart contracts, as self-executing protocols, automatically enforce predefined transaction rules when specified conditions are met, providing robust technical support for cross-chain communication. They can automatically detect and respond to data or events from other blockchains, reducing reliance on third parties through decentralized verification mechanisms, thereby enhancing system security and transparency. Additionally, the transparency and immutability of smart contracts offer a solid foundation of trust for cross-chain transactions, enabling flexible interaction between services on different blockchains to meet diverse business needs.
Also Read: WiMi Develops Blockchain-Based Resource Management for Edge
To achieve cross-chain communication, WiMi has developed the following key technical architecture:
Cross-Chain Messaging Layer: Responsible for securely, reliably, and orderly transmitting information between different blockchains, ensuring smooth cross-chain communication.
Smart Contract Standardization: Establishes standardized smart contract interfaces to ensure that smart contracts on different blockchain platforms can understand and execute each other, reducing interoperability challenges.
Interoperability Protocol: Develops a comprehensive protocol that defines the rules for transferring assets and services across different blockchains, ensuring security and compliance throughout the process.
Security and Privacy Protection: Utilizes advanced encryption technologies and privacy protection measures, such as fully homomorphic encryption (FHE), to safeguard on-chain data privacy. FHE allows computations to be performed directly on encrypted data without decryption, ensuring the security of sensitive information even when data is publicly accessible on the blockchain. Additionally, machine learning is integrated for intelligent key management and threat detection to counter evolving security risks. Dynamic keys generated through machine learning enhance data security during on-chain broadcasting and storage, while also providing risk assessment and early warning capabilities to improve the overall security of the blockchain system.
WiMi‘s research into smart contract-based cross-chain communication solutions not only enhances the value of existing blockchain applications but also lays a solid foundation for future technological innovations. As cross-chain technology continues to mature and evolve, a more interconnected, efficient, and inclusive blockchain ecosystem will gradually emerge. Cross-chain communication, as a key driving force in the development of blockchain technology, will lead the industry into a more advanced and practical phase. WiMi’s innovative exploration opens up new possibilities for blockchain development, driving the prosperity and growth of the entire industry.
Source: PRNewswire