Inery is created on a proprietary layer-1 blockchain designed to offer the solution of decentralized database management with the vision to enable a new paradigm for data. It lays the foundation for web3 by seamlessly connecting with systems, applications, and layer-1 networks.
Inery consists of two core products– Inery blockchain and IneryDBMS, the decentralized data management system. The ecosystem is focused on fostering the essence of Web3, while guaranteeing high throughput (5000 tps), cross-chain compatibility, sustainability, and top-notch security.
User data is managed via multiple servers across the network — also known as MEM nodes. This ensures high speed, low cost, and accelerates data recovery speed.
In order to fully understand how you can become an Inery validator, we first need to go over Inery’s testnet and what the developers have done so far.
Inery launched its first public testnet on August 10th, 2022. By participating in the platform’s public testnet, developers will be able to access functionalities including but not limited to creating smart value contracts, transferring $INR tokens, using operations, and even developing smart value contracts for tokens and NFTs.
In addition to this, participants are able to check blocks, and transactions, or exchange $INR tokens within the network with the record permanently stored on the database. Apart from that, developers can register as a producer of blocks or validators.
Inery’s testnet allows developers to explore the functionalities in the network. With the feedback received from the developers, Inery’s tech team continuously improves the testnet and expands its abilities. It goes without saying that the testnet is of utmost importance for the testing and experimentation of Inery. This ensures that Inery’s mainnet rollout goes perfectly.
The Inery Blockchain’s DNA:
- 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 Inery GUI that enables you to communicate with or share data across multiple chains and industries.
- Immutability - 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 MEM nodes 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, making it fast and efficient.
Inery created seven technical tasks, four of which are currently active, to further incentivize developers on the public testnet. Once a task is successfully completed, developers are granted a certain amount of $INR tokens. All the announcements for new tasks will be made on Twitter, Discord, and Telegram.
Planned tasks and rewards:
- Developers performing master approval are eligible for 800 $INR
- Creating your own token or currency and transferring it to someone makes you eligible for 1500 $INR
- Creating your own Smart value contract rewards you with 2000 $INR
- Completing an RPC API push transaction makes you eligible for 4000 $INR
- Creating a full-stack web app using IneryDBSM makes you eligible for 4000 $INR
- Creating a simple game contract gets you 1500 $INR
- Creating an NFT gets you 1200 $INR
Dr. Naveen Singh, the CEO and Co-Founder of Inery, said that Inery’s testnet will be a landmark in the blockchain space as Inery brings database management in convergence with a decentralized layer. Inery’s aim is to also build an ecosystem that is developer-intuitive and provides limitless opportunities for them to build Web3 dApps.
Three weeks ago, Inery’s testnet had over 1000 nodes running in more than 10 countries. Currently, our testnet has over 2000 nodes running in 36 countries.
Becoming An Inery Validator
Validators are randomly selected network nodes operating in Proof-Of-Stake blockchains that verify transactions (data submitted to be added to a blockchain) on a blockchain. In order to become an Inery validator, you first need to have your node in the network.
The first step is signing up and creating an account. After that, you need to apply for a 50k $INR faucet. Once that is approved, you can download all of the needed files so that you can launch the node on your computer or server. The next step is starting the node, and once you are done with all the steps – you are capable of creating, validating, and signing blocks.
In Inery’s testnet, validators are master nodes or producer nodes.
If becoming a master node doesn’t interest you, but you still want to participate in the testnet and earn tokens – you can become a lite node in the Inery testnet. Lite nodes are peers in the network that help the network function by making a copy of the ledger and by listening to all newly created blocks. You can push transactions, read ledgers, and interact with the blockchain.
Benefit For Testnet Validators
Those who actively and passionately participated in Inery’s testnet will have an additional benefit. There are seven tasks that participants need to complete on the testnet, and each completed task comes with a reward in $INR tokens.
In other words, those who successfully complete all seven tasks on the testnet will earn 15k $INR in rewards.
Testnet participants who want to become validators on Inery’s mainnet will have the unique chance to do so by staking the earned 15k $INR tokens, instead of having to apply for the 50k $INR faucet.
This is an excellent opportunity for participants who are eager to continue their involvement with Inery, show support for Inery’s vision, and earn rewards on the mainnet.
Projections For Inery’s Mainnet
For now, the Inery team is projecting that the Inery mainnet will be live in Q1 2023.
Take a quantum data leap with Inery, and experience the pure power of blockchain technology, and community in a sustainable and cost-effective way.
Want to become an Inery validator? Join us, here.
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