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The Inery network’s strategic blend of decentralized data management and a cross-chain interoperable blockchain gives users control of their own information.
Inery, the first-ever decentralized database management and blockchain solution, facilitates a holistic database management system. This vision is geared to bring a new paradigm for data accessibility. According to Inery, achieving all this will provide users with dynamic access to data and the security that blockchain technology offers. According to chief executive officer Dr. Naveen Singh, “with Inery, our efforts are focused on envisioning a decentralized, secure, and environmentally sustainable architecture for database management”.
In addition, Dr. Singh also touched on Inery’s value proposition and how it benefits end-users, saying:
“Inery enables an affordable and secure solution that allows people to issue and control data assets to activate a new paradigm for data accessibility.”
About Inery Database & Blockchain Solutions
As the first-ever decentralized database management platform, Inery’s blockchain is specifically programmed for database management. Inery also boasts other defining traits, such as interoperability, high throughput, complex queries, low latency, immutability, affordability, and privacy. Furthermore, Inery offers the best of decentralization by combing blockchain functionalities with distributed database management properties.
Each feature addresses issues particular to the database management. Inery also directly tackles issues stemming from siloed data on centralized servers and user data controlled by third parties.
According to Inery’s official website, up to 93% of users would like total control of their personal information. This interestingly high number makes the Inery ecosystem highly appealing to users seeking autonomy. According to a data report, there was a 5000% increase in the amount of data created, captured, and consumed between 2010 and 2021. The same report projects that the amount of data created over the next three years will surpass the amount created over the last 30 years.
Inner Workings of the Inery Blockchain Ecosystem
IneryDB leverages blockchain functionalities to facilitate the platform’s features while providing effective database management, immutability, security, and cost-effectiveness. As a result, IneryDB provides users with owner-controlled assets and real-time synchronization of data. Meanwhile, the Inery blockchain integrates a high throughput and secure network architecture that facilitates the deployment of decentralized applications. To effectively support next-gen distributed ledger technology innovation, Inery layer-0 blockchain provides the ecosystem with cross-chain interoperability and a sustainable foundation. In addition, Inery’s blockchain is resistant to Sybil attacks via the proof-of-stake consensus mechanism.
Challenges Posed to Data Management Systems & How Inery Solutions Meet Them
General expectations suggest that the global big data market will hit $234.6 billion by 2026. This is because data has become the fodder that drives operations across a range of disparate industries, including enterprises and governments, financial institutions, healthcare, and GameFi (decentralized gaming), to name a few. However, the current systems for database management have become redundant. Some of these are complications regarding infrastructure security and the absence of user control over their data assets. For instance, last November, a hacker forum put up private and personal information of more than 1.5 billion Facebook users for sale. Even healthcare industries have not been exempted from cyber-attacks and data breaches. According to statistics, the total amount lost to security breaches for healthcare platforms stood at a staggering $6 trillion.
The Inery solution directly addresses each of the unique database management problems posed to some of these industries. The solution does all this without relegating account control, compliance, security and transparency. For financial institutions, Inery’s cross-chain compatibility, high throughput, and low transaction fees provide the requisite know-how needed for smooth operations. Furthermore, in the healthcare space, Inery’s sustainable and secure platform offers solutions to peculiarities in the sector. These include drug trafficking, user sovereignty over their data and data interoperability between healthcare verticals. Lastly, in the GameFi sector, Inery provides a competent ecosystem for creating and sharing non-fungible tokens (NFTs). In addition, the blockchain solution caters to attribution and asset ownership, as well as certifications and licensing.
Inery Native Token (INR)
Inery’s INR native token gets value from engaging with IneryDB for a database management system. The digital asset also derives value from running on blockchain nodes and accessing Inery-based products or services. Lastly, transaction fees from activities on the platform also account for INR’s value accrual.
INR has a total supply of 800,000,000. Furthermore, the digital token’s starting public sale price was $0.16, with 176,000,000 offered in the pre-public sale. Also, INR’s use of funds sees the largest chunk (46%) go towards an ecosystem that includes staking, rewards, and grants. Furthermore, 10% allocation goes to platform development, with other smaller varying degrees of allotment facilitating other commitments.