- Database attacks and data leaks are rampant in recent times due to which centralized legacy systems are fading away into the background.
- Decentralized database solutions can fill this lacuna left by centralized DBs.
- Inery is designed to make the switch from a centralized to a decentralized DB easy for enterprises while offering enterprise-grade features.
In the wake of recent data breaches and scandals, enterprises are rethinking their approach to data privacy and security.
For instance, MongoDB, one of the world’s most heavily relied on document-oriented NoSQL database solutions with multi-level encryption, was subject to attack. In this notorious attack, the hacker infiltrated almost 23,000 databases and demanded a ransom in exchange for not leaking the data.
Centralized database management systems are no longer seen as secure or reliable, leaving many companies scrambling to find a new solution.
Imminent Threats to Enterprises from Centralized Databases
There are many risks associated with using a centralized database, including:
- Data breaches: A single point of failure makes it easy for attackers to gain access to all of the data.
- Loss of control: Enterprises have no way to verify how their data is being used or accessed by the central party.
- Reputational damage: In the event of a data leak, the company’s reputation will be tarnished.
- Legal liability: If sensitive data is leaked, the enterprise could be held liable.
- Single point of failure: If the central server goes down, the entire system will go down with it.
Enter Decentralized Database Management for Enterprises
Decentralized solutions use cryptography and hashing algorithms to store data in a virtually impenetrable manner. While the data may be accessed, it cannot be tampered with.
Further, enterprises have the liberty to share the data stored on a decentralized DB among a trusted circle with pre-defined permission without compromising security. This can open up the stage for insights from different mindsets and foster collaboration among stakeholders.
“Many companies are discovering that partners, suppliers or customers have adjacent data and insights that, if combined thoughtfully through systems and platforms, can create richer value propositions for all.”
Additional security layers can also be added to ensure that proprietary data of businesses do not fly out into the open or invite malicious incidents.
“There are cyber threats out there, this is a dangerous world, and we have to be safe, we have to be secure no matter the cost.”
— Edward Snowden
With decentralized database management, enterprises have the advantage of:
- Enhanced security: Data is spread out across a network of computers, making it virtually impossible to hack.
- Improved privacy: With no central authority, businesses have full control over their data.
- Improved scalability: Decentralized systems can handle a large amount of data.
Inery: Making The Switch From Centralized to Decentralized Database Management Easy
Inery is the first-ever database management solution that decentralizes data storage and management from the base layer.
Restructuring the entire framework of a database that has been working well for years is no easy task for an enterprise. At the same, time is critical that they consider the consequences of holding onto a centralized database in the current environment.
Inery has been designed with enterprises in mind, offering a solution that is:
Secure: With data spread out across a decentralized network, Inery provides enhanced security for businesses.
Private: Businesses have full control over their data, ensuring improved privacy.
Real-time: Inery uses SDPoS consensus model for high throughputs and low latency allowing for real-time data accessibility.
Scalable: Inery can handle a large amount of data, making it ideal for businesses that are growing.
In addition, Inery is easy to use and integrates seamlessly with existing systems. This makes the transition from centralized to decentralized database management simple and straightforward for businesses.
Inery is a decentralized database management solution that offers all of the benefits of a decentralized system, without the hassle of switching from a centralized system.
It is designed to make the switch from a centralized to a decentralized database management system easy for enterprises while offering enterprise-grade security, privacy and scalability, making it the ideal solution for businesses that are looking to take their data privacy and security to the next level.
Inery is the first-ever layer-1 blockchain offering the solution of decentralized database management with the vision to enable a new paradigm for data. Inery is designed to enable cross-chain communication of data, greater speed, and better security. It specifically addresses database management integrated with blockchain functionalities and distributed database management properties.
The Inery database management solution (IneryDB) allows a secure, low-cost, and immutable way for database management where the control of private information remains in the hands of users and enterprises. It sets the base for the web3 future to enable value creation by seamlessly connecting with other systems, applications, and layer-1 networks.
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