WiMi Hologram Cloud Inc., a globally renowned leader in Hologram Augmented Reality (“AR”) Technology, has announced a groundbreaking development in the realm of digital payments. Today, the company revealed the creation of a revolutionary lightweight software architecture tailored for payment systems on a blockchain multiplexing platform. This announcement signifies a significant leap forward in the realm of digital transactions, promising a more flexible, convenient, and secure payment experience for users and merchants alike.

Named the MultiChainPay Hub, this system introduces a paradigm shift in cross-cryptocurrency payments. By seamlessly integrating with multiple crypto blockchain networks, MultiChainPay Hub enables buyers to pay in one currency while ensuring that sellers automatically receive another currency of their preference. This innovation not only maximizes buyer convenience but also serves to boost sales figures significantly.

Explaining the functionality of MultiChainPay Hub, WiMi detailed a streamlined process comprising five key steps within its lightweight software architecture:

1. Payment Initialization: The buyer initiates checkout on the shopping platform, triggering the transmission of the offer to the MultiChainPay Hub on the merchant’s cryptocurrency blockchain network.
2. Request Messaging: Messages are seamlessly relayed between different cryptocurrency networks via internal messaging routers and bridges until they reach the intended recipient.
3. Payment Execution: This sub-component handles payment creation and recording, generating an invoice to be sent to the buyer on the corresponding smart contract. Payments are then processed through MultiChainPay Hub’s cryptocurrency exchange.
4. Response Messaging: Similar to request messaging, response messages traverse different cryptocurrency networks’ paths to reach the original network, ensuring seamless communication.
5. Payment Confirmation: Upon updating the relevant offer record on the smart contract, MultiChainPay Hub signals the completion of payment by sending a new message containing the deposited funds and proof of purchase.

WiMi’s MultiChainPay Hub incorporates a built-in cryptocurrency exchange, guaranteeing accurate cross-cryptocurrency payments through real-time exchange rate processing. This exchange deposits the converted net amount into the merchant’s account hosted on the native cryptocurrency blockchain network, thereby simplifying e-commerce transactions and offering buyers and sellers unparalleled flexibility in cryptocurrency choice.

The innovation of MultiChainPay Hub lies in its ability to resolve the complexities of cross-cryptocurrency payments through multiplexing, real-time exchange rate processing, and a lightweight software architecture. By automating the payment process and seamlessly integrating with various e-commerce platforms, it offers unmatched efficiency and adaptability in digital transactions.

WiMi anticipates MultiChainPay Hub to play a pivotal role in shaping the future of digital payments. From enhancing user and merchant experiences to driving adoption on global e-commerce platforms, this innovation is poised to revolutionize the cryptocurrency ecosystem, ushering in a new era of convenience, security, and efficiency in digital transactions. As WiMi continues its commitment to technological innovation, MultiChainPay Hub stands as a beacon of progress, leading the charge towards a more intelligent and accessible payment ecosystem.