WiMi Hologram Cloud Inc. announced that it developed a lightweight software architecture for payment systems on a blockchain multiplexing platform. Through multiplexing, and real-time exchange rate processing, it provides users and merchants with a more flexible, convenient and secure payment experience. This payment system is expected to revolutionize cross-cryptocurrency payments.

WiMi named it, MultiChainPay Hub. The system works with a number of crypto blockchain networks to support cross-cryptocurrency payments. Where the buyer can pay in one currency and the seller automatically receives another currency of his/her choice.

This maximizes the convenience of the buyer and thus increases sales. With the built-in cryptocurrency exchange, cross-cryptocurrency payments can be processed using real-time exchange rates so that both the buyer and seller receive the cryptocurrency of their choice. To ensure that payments are fast, efficient and secure, MultiChainPay Hub's lightweight software architecture includes five key steps.

Payment initialization: The buyer initiates checkout on the shopping platform, which sends the offer to the MultiChainPay Hub on the merchant's cryptocurrency blockchain network. The Hub records the offer on a smart contract, which then generates a cross-chain transaction message to be sent to the cryptocurrency network of the buyer's choice.