Inery is a decentralized data system that integrates blockchain features and distributed database management properties to introduce a new paradigm for data.
Inery comprises two core products– Inery blockchain and IneryDB, the decentralized data management system. The ecosystem is focused on fostering the realization of a completely decentralized Web3 with its high throughput, cross-chain compatibility, security, and stability capabilities.
Into the Inery Blockchain DNA
The Inery blockchain DNA is made of the following attributes:
Hybrid (public and private) chain – the public chain is optimized for the private decentralized data management solution to enable users to build and deploy their applications.
Self-delegated proof-of-stake (SDPOS) - consensus mechanism, which is energy efficient and makes it expensive to carry out Sybil attacks. The consensus also enables high throughput and secure functioning of the network and faster transaction finality of data assets.
DAO governance – Inery is DAO governed to enable decentralization and cohesion among stakeholders.
Interoperability – The ecosystem features a graphical user interface that enables you to communicate with or share data across multiple chains and industries.
Immutability - where data once stored on the blockchain becomes tamper-proof. The history of the data is retained, including modifications made, to achieve accountability and authenticity.
Low-cost, high-speed – Inery uses masternodes to achieve high performance and low network latency. Converting data into cryptographic texts and storing them on the blockchain enables Inery to provide an affordable database management solution without compromising speed and security.
API - execution on nodes through API to retrieve the data from tables on the blockchain. This process if fast and efficient.
Benefits of this Approach
Instead of storing data in a single server, Inery spreads data across multiple masternodes. Inery took this approach because it's better for data speed, processing, and connectivity. The benefits of using masternodes include the following:
Security and transparency, are achieved by spreading user data across a network of nodes and replicating added data to all nodes for consistency. This eliminates the risk of a single point of failure and data breaches.
Control over data – decentralizing data means that users determine who has access to their information using cryptographic private keys. It also prevents central organizations from manipulating user data.
Optimized performance – Masternodes are optimized for data speed and connectivity, which enables data sharing and portability at high speeds.
Accountability and Authenticity, meaning user data via multiple nodes in the network gives the data a single source of truth, as the data is consistent across all Masternodes nodes.
The second set of activities is already live on our testnet. So far, we have over 1000 nodes running in more than 10 countries.
Want to learn more about Inery testnet? The best way to learn is by doing. Learn more about the testnet here and set up your node to participate in our testnet activities for rewards.
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