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Inery

1 year ago

How Decentralized Storage And Database Management Providers Will Power The Web3 Economy

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So far, most users have been attracted to the Web3 wave by the promise of having control of their data back from Web2 capitalists. Venture capitalists also seem to be crossing over to the decentralization side. With massive adoption gearing towards the decentralized web, the need for decentralized database solutions for archival, retrieval, and data maintenance, has become more apparent.

As a result of the already growing data volume, the cost of security and high-energy consumption will increase. This will propel Web3 towards decentralized database management services like Inery. 

Meeting Global Data Storage Threshold

Much of the data currently powering the internet is locked somewhere in a data warehouse belonging to a few centralized companies. This gives a massive chunk of data a central point of failure in the event of a power outage or blackout in the companies. In return, the web can go down for hours. And that is just one of a long list of shortfalls these centralized data storage solutions face. 

 

Decentralized database management providers like Inery combine storage capacity and the computing power of individual devices to form a super-network capable of storing several copies of data. In short, in powering the Web3 economy, decentralized storage solutions will enable websites to continue functioning even when some nodes fail. That is, information or content is not confined to a single point of failure, but instead available on several independent servers

In essence, distributed storage solutions decrease network latency and ensure easy and faster data retrieval. Web3 users will also be able to store highly sensitive information on IneryDB without worrying about its security. 

Decentralized infrastructures meet the threshold via crowdsourcing, incentives, and trustless abstraction layers to offer users privacy, security, performance, and cost-efficient infrastructures.

Inery at the Forefront of Decentralized Storage Solutions

Complete decentralization can only be realized once the database systems are also decentralized. IneryDB is a decentralized database management built on top of its own layer-1 blockchain solution. It understands the importance of data security and internet privacy to individuals and organizations. It spearheads the shift towards Web3 by seamlessly connecting blockchains, applications, and systems.

IneryDB is built on top of a fully decentralized architecture to support low network latency, owner-controlled assets, query search, and high performance. The database management solution combines distributed DB management properties with blockchain technology functionalities. 

Compared to other storage and database management solutions, Inery tops in immutability, speed, accessibility, and various database support services. This makes Inery capable of handling the constant influx of data that the Web3 is about to realize, in a secure, accessible, and decentralized way. The data is encrypted so that only the user can access it using private cryptographic keys. Inery’s backup solution is a data cluster made up of multiple servers working seamlessly to give multiple backup levels, enabling individuals and corporations to protect their data with reserve database copies.

Inery also boasts of the interoperability that it brings to the table, a functionality that Web3 will need in realizing its full potential. Thus, Web3 users will be able to share their data at greater speeds and advanced security across multiple chains or systems, seamlessly. In addition, Inery offers developers with in-built functionality of tools for coding and deploying their decentralized applications.

DWeb and Conventional Web 

Right now, there seems to be a significant tradeoff when it comes to choosing between decentralized DBMS and centralized systems, since the conventional web is quite mature. But for how long?

The decentralized storage solutions promise more privacy, durability, performance, and cost-efficiencies, which outweigh Web2’s benefits that have been overshadowed by unbalanced tradeoffs. 

As the use cases for Web3 continue to take shape and mature, the adoption is set to elevate even further. While the conventional web will not completely die out, a significant part of it will jump onto this wave. In fact, a number of big tech and luxury companies are already experimenting with NFTs in the metaverse and blockchain game.

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