Inery has been committed to the vision of enabling a paradigm shift in how data is handled, stored, and utilized since its inception. The team behind Inery has worked to create a foundation for Web3 and empower the creator economy while trying to bring data control back to the users and away from the big corporations. Since its launch in the first quarter of 2020, Inery has been able to achieve several key milestones, including the commencement of public testing and a successful launch.
Inery So far…
Determination of node distribution and intrinsic algorithms
In Q1 2022, Inery determined how nodes are distributed, Master and Lite nodes, based on available resources and functions in Inery Blockchain. The intrinsic Inery Blockchain algorithms were developed, including block creation and reward allocation.
API functions, RPC deployment, and enabling CLI
Inery tested API functions that allowed sending messages in JSON format over Inery Blockchain in Q2 2022 and set up security measures for binary file execution on the ecosystem. They also set up Remote Procedure Call (RPC) services for remote node communication and enabled Command Line Interface (CLI) functions to empower servers.
Creation of API services
API services were created to retrieve data without using CLI, like monitoring balances, transactions, and block information
Smart value contracts were developed for functionalities within the Inery ecosystem.
Wallet address generation and testing on servers to ensure they don’t overlap
Token generation mechanism was implemented to create custom tokens for end-users.
Development of node rankings algorithm inside Inery
Implementation and development of the explorer
Inery Token ($INR) listing
We carried out a successful listing of its native token, $INR, on Huobi, one of the leading crypto exchanges globally. Huobi serves over 10 million active users with over 1000 trading pairs and 600 cryptocurrencies in the digital economy. $INR was listed on Huobi on September 28 and trading began at $0.22. INR is currently live on Huobi with the trading pair INR/USDT.
Public Testnet Launch
The listing comes barely a month after the launch of Inery’s first Public Testnet that enabled developers to get a glimpse of the decentralization promise and test its nodes for rewards. Inery has already launched the third set of tasks for the public to participate in and get rewarded. The testnet currently has over 800 nodes running. It is improving its global footprint, with these nodes hosted in more than 10 countries so far.
We have also made strategic partners along the way, to help in realizing the vision of Inery and drive mass adoption of decentralized data management. Some of our strategic partners include Sadiqa, Crescotec, NexBloc, and the award-winning global marketing firm – Luna PR.
Since its inception, we have attracted the attention of venture capital firms that have made investments in Inery for its clear vision and real-world use cases. GEM (Global Emerging Markets) committed $50 million to the course, while Metavest strategically invested at a valuation of $128 million. Other investors include Nebulous Holdings AG, First Media Advance, Zazen, Cap Lion Point, and Truth Ventures.
Inery has been featured on several media platforms including Cointelegraph, Investing.com, Benzinga, CryptoDaily, Crypto Potato, Publish0x, CoinCheckup Blog, TechBullion, thecryptoupdates (tcu), Yahoo Finance, Yahoo News, Yahoo Money, NewsBTC, crypto.news, Bitcoinist, CoinQuora, GlobeNewswire, Digital News Journal, and Hackernoon.
Recognition and Awards
Inery was recognized as the Best Emerging Blockchain Solution of the Year in the Fintech Leaders Award 2022. Prior to the token listing, Dr. Naveen Singh, Inery CEO secured the Blockchain Leader of the Year in the first edition of the GBTech Awards 2022.
Our course for decentralizing data management is not over yet. We have upcoming developments, including the development of module libraries (node, JS, C++, Java, C#, PHP, Golang), enabling web GUI and desktop GUI to allow end-users to run their own servers. Inery also has prospects to add new options for importing data from CSV and importing existing non-relational databases from different systems into IneryDB.
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