MicroCloud Hologram introduces blockchain edge storage system

SHENZHEN, China - MicroCloud Hologram Inc. (NASDAQ:HOLO), a provider of Hologram Digital Twins Technology currently trading near its 52-week low, today unveiled a new edge storage system that integrates blockchain technology. The system is designed to enhance data circulation by storing information closer to its point of origin, thereby reducing latency and network congestion. According to InvestingPro data, the company maintains a strong liquidity position with more cash than debt on its balance sheet.

The new storage solution leverages blockchain’s decentralization, immutability, and security features to ensure data integrity. With this technology, edge devices, such as IoT sensors and mobile devices, can store data directly on the blockchain. Access and exchange of this data are managed through smart contracts, which set out the terms for data sharing, including access rights and exchange rules.

Using blockchain’s consensus mechanisms and encryption algorithms, the system aims to protect data security and privacy. Each edge device is assigned a unique identifier for authentication, promoting a secure and trusted data-sharing environment.

The announcement highlighted the potential for real-time data availability and usability improvements. Traditional cloud storage methods, which often involve significant data transmission and network latency, can be bypassed by storing data on edge nodes closer to the data generation source. This approach promises faster access for applications and users while maintaining the authenticity of the data.

MicroCloud Hologram’s new system architecture includes edge nodes that distribute storage and computation tasks, a blockchain network for decentralized data management, smart contracts for rule enforcement, and data storage that reduces transmission latency.

This development is part of the company’s ongoing efforts in holographic technology research and application. MicroCloud Hologram provides services worldwide, including holographic LiDAR solutions and holographic vehicle intelligent vision technology for advanced driver assistance systems (ADAS). The company has demonstrated strong revenue growth of 42.62% over the last twelve months, though InvestingPro analysis indicates the company is currently unprofitable with negative EBITDA of $18.82 million.

The press release also contained forward-looking statements regarding the company’s strategic plans and market expectations. These statements indicate a positive outlook on the growth of the AR holographic industry and the market acceptance of MicroCloud Hologram’s products and services. However, the company acknowledges inherent risks and uncertainties that could impact actual results. Trading at a price-to-book ratio of just 0.15, InvestingPro analysis suggests the stock may be undervalued relative to its assets. Subscribers can access 14 additional ProTips and comprehensive financial metrics to better evaluate the company’s potential.

This announcement is based on a press release statement from MicroCloud Hologram Inc.

In other recent news, MicroCloud Hologram Inc. reported a significant financial performance for the fiscal year 2024, with total operating revenue reaching approximately $40.76 million, marking a 42.16% increase from the previous year. The company also saw a substantial rise in cash and cash equivalents, growing by 575.54% year-over-year to around $118.45 million. MicroCloud’s strategic priorities, including market expansion and technological innovation, were highlighted by Chairman Wei Peng as critical to the year’s achievements. Additionally, MicroCloud unveiled a new blockchain reconstruction solution designed to enhance security and data integrity, utilizing verifiable secret sharing technology. This solution aims to ensure quick restoration and maintain data consistency in blockchain systems. The company also introduced a quantum key distribution protocol to improve quantum transmission security, leveraging high-dimensional entangled states. Furthermore, MicroCloud announced a two-qubit dephasing noise spectral protocol, which aims to enhance the study of quantum noise and its effects on quantum systems. These developments reflect MicroCloud’s ongoing commitment to innovation in the technology sector.

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