MicroCloud Hologram Inc. (HOLO), a technology service provider, today announced a new Bitcoin blockchain hybrid consensus algorithm. This hybrid consensus algorithm draws on the advantages of the original single consensus algorithm, and through integration and optimization, seeks to further improve the performance and expansibility of the Bitcoin Blockchain system based on ensuring security and consistency.
HOLO employs a PoS based on the verifiable random function (VRF) protocol to elect committee leaders and members. This design ensures the fairness and randomness of the consensus process and avoids the potential concentration of power or malicious behavior. The leader is responsible for generating new blocks, while the verifier is involved in the consensus on the validity of the blocks. This division of labor significantly improves the overall efficiency of the system. HOLO also employs cryptography to secure users’ transaction data. All transaction data is encrypted and signed during the block generation and verification process to ensure data integrity and confidentiality. This initiative protects the security of user data and sets the security standard in the industry.
With its hybrid blockchain consensus algorithm, HOLO combines the advantages of multiple consensus algorithms to significantly improve the security and reliability of the network. Specifically, the algorithm can effectively defend against attacks by malicious nodes and ensure the accuracy and integrity of transactions while ensuring the normal operation of the system. In this context, randomly selecting consensus nodes has become a major highlight. This initiative prevents the prediction of attackers, thus reducing the risk of attacks on the network. In addition, the multi-signature mechanism provides an additional guarantee for transaction security. In terms of scalability, the hybrid consensus algorithm demonstrates strong adaptability and flexibility. According to the actual demand and resource conditions, the algorithm is able to intelligently select the most suitable consensus algorithm to meet application scenarios of different scales and complexity. Whether dealing with large-scale transactions or data storage, the hybrid consensus algorithm is able to deliver outstanding performance. Most importantly, the hybrid consensus algorithm also provides strong support for the diversity of business requirements. Depending on the requirements, the diverse combination of algorithms enables HOLO to provide targeted blockchain solutions to meet the diversified needs of customers.
HOLO believes that the hybrid consensus algorithm improves the security and reliability of the network, and also has excellent performance in scalability and flexibility. With the use of the hybrid consensus algorithm, it can accurately meet all kinds of business needs, provide customers with more excellent and efficient blockchain services, and safeguard data security.
The company currently holds a cash reserve of approximately