On September 8th 2022, our community had a chance to welcome Vincent Irlweck – CMO of Inery Blockchain to join an AMA to deliver fruitful information about the key features and roadmap of the project.
This AMA was held by CryptoFamily Group – the top crypto community in Vietnam, where investors and traders can obtain the latest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.
Inery (https://inery.io/) is the first-ever decentralized database management and blockchain solution.
At this AMA, Vincent Irlweck – CMO of Inery Blockchain directly greeted the community and provided detailed information on the project as well as some exciting events that will be held in the near future.
Time: 21:00 PM (UTC+7) | Thursday, September 08th, 2022
Reward Pool: $100 for members with the best questions.
PART I: OVERVIEW QUESTIONS
- First, please make a brief introduction of Inery and some great achievements you has made so far.
Inery Blockchain: Inery is a decentralized data system. It is a layer-1 blockchain that is programmed for database management. What this essentially means is that similar to how Ethereum is programmed for securely executing and verifying smart contract codes; and how Avax focuses on delivering a scalable blockchain with transaction speed, low costs, and eco-friendliness, Inery blockchain is designed to specifically deliver database management. IneryDB is the decentralized database management solution on the top of its own blockchain.
So, in essence, we are the first ones to enable a decentralized data system which is powered by blockchain. And IneryDB combines all the dynamics and components of database management in a completely decentralized architecture.
Coming to the second part of your question, we started the development of Inery back in 2020 so we are really proud of how far we have come. And in the second quarter of 2022, we’ve been able to attain important milestones that will take us a step closer to our public testnet and mainnet release. Some of these milestones include the development of API functions for sending messages in JSON format over Inery blockchain, enabling CLI capabilities on server, Wallet address generation and testing on test servers, development and implementation of the algorithm for node rankings inside the blockchain, and more.
Just recently, we achieved yet another milestone of our first public testnet and I am proud to say that its going extremely well. Our future targets would basically be the mainnet release of Inery and IneryDB.
- Next, could you tell me what outstanding solutions does Inery bring to protect users’ data and privacy?
Inery Blockchain: Inery guarantees users privacy, security against breaches, and affordability in data storage or data sharing while optimizing performance. Being decentralized means that it protects users’ and business data from the single point of failure crisis that plagues the centralized infrastructures.
It also prevents central organizations or a few individuals from manipulating users’ data for their own gains. Its features ensure that the data can only be accessed by the corresponding user with pre-defined authority. Hence, the users decide who can access their data and how they can use it and are compensated whenever their data is utilized.
- Could you please update some latest news or hot events of Inrery Blockchain to enable further adoption?
Inery Blockchain: So we have been doing a bunch of things. One, we have leading industry people on the board of Inery. We have David Munro Anderson, Inery’s financial advisor who is a pioneer of the futures contract trading industry, and Bally Singh, Inery’s marketing advisor who is the CMO of the Metaverse Avatar platform Metahero and Everdome.
Recently, Simon Murray who is the Ex-chairman of Glencore, ex-head of Deutsche Bank in Asia and the founder of the famous telecom company Orange has joined as the Chairman for Inery.
We have also announced our partnership with some global investors like Menas Global, one of the leading investment firms in the MENA region and Cap Lion Point, an investment bank with a target focus on Asia and Africa. In the near future, we will also be announcing some more partnerships that will bring more value to the project.
PART II: PRE-COLLECTED QUESTIONS FROM TWITTER
- From @Kynato_1988
The market situation is getting worse recently, making investors frustrated when investing new projects. How can you mitigate its vulnerability to ensure the best benefits? What do you think about the future of the Blockchain industry in the last months of 2022 and beyond?
Inery Blockchain: I believe that the overall blockchain space will see a significant increase in the coming years along with the rise in huge institutional investors with increased exposure to the crypto space. This will eventually stabilize the crypto market. In my opinion, we have very interesting years to come ahead as the industry is growing rapidly. Even though things are rather slow now due to the bear market, good projects will rise up in these kinds of times. In the bull market, everyone wants to jump on the running train but that is when most of the mistakes happen. This is the right time to invest in good projects with appropriate due diligence to gain sustainable profits.
- From @Hk25801
Inery Blockchain is a decentralized database management project with the goal of increasing transparency on chains. To do that, is $INR planning to do it on a single chain or will it expand to a multi-chain model incorporating BSC or Polygon?
Yes, so Inery supports cross-chain compatibility to allow interoperability between different chains without compromising security. So the Inery blockchain architecture solves many problems that blockchain networks face today. This will also serve as a frontier by being the first-ever database management solution encompassing cross-chain compatibility between different chains.
So with cross-chain interoperability Inery allows transfer of data assets from one chain to another.
- From @Linh_trang1805
As we see, one of the biggest problems in the crypto market nowadays is privacy and security. Has your contract been audited, and what are your solutions to prevent your users’ assets from being hacked and stolen on the platform?
Yes, our contract has already been Audited in March this year by a leading security firm.
- From @alloutcryptocom
Please share your vision and mission during the project progress. What are some use cases that are currently supported on Inery Blockchain? What are the advantages to make Inery different from other traditional distributed databases?
Ofcourse. So let me explain the use-case of Inery for Metaverse and NFTs
As the metaverse trend becomes more prevalent, several platforms have risen to bring new innovations. While these platforms have succeeded in offering an immersive environment to engage and conduct in a virtual world, these solutions have also made the metaverse into a series of isolated virtual environments. Several individual platforms are misinterpreted as the metaverse with this current design framework. This creates a disconnect for users wanting to capture the potential of the metaverse at its full capacity.
Inery provides a potential cross-chain solution for users to interact with their data assets in the entire metaverse domain. This shifts the metaverse from a platform-specific space to an open ecosystem for mass participation and benefits.
Using IneryDB – our database management solution, a user can interact with their content, NFTs, avatars and more between different platforms as the information is now accessible from IneryDB — a database layer outside of a centralized environment.
Coming to NFTs, we know that Permanence is one of the integral factors of the NFT industry. And using metadata Inery ensures the permanence and accessibility of NFT data storage on its decentralized network. Metadata refers to the description or key content related to any kind of data asset, including NFTs, files, images, spreadsheets, photos, audio and more. The metadata stored on Inery ensures the accessibility to retain the value of NFTs like digital artwork or collectables. This also allows Inery to handle vast amounts of data on a scalable infrastructure. `
Hope this answers your question
PART III: BEST LIVE QUESTIONS IN CRYPTO FAMILY GROUP
- My question : Non-crypto user is very important for mainstream adoption. How you are planning to attract non-crypto users towards your project? Is there any upcoming partnership that will brings non-crypto user and real-use case?
Good question,that we are crypto plus conventional, how let me explain it like we are brining decentralized Database is called IneryDB , which will help to bulid and manage database for the enterprise , healthcare and many more industry. that is the real usecase for non crypto users
- How many TPS the INERY Blockchain can handle at the moment?
5000 + TPS
- Hello, Does INERY BLOCKCHAIN support smart contracts? If no what is your plans in that matter?
Yes, Inery supports smart contracts. So our smart contracts, which we call as value contracts, can be coded in two ways: one that integrates the CRUD functionality and the other that doesn’t. So the value contracts which do not have the CRUD functionality cannot be modified.
- Hello😇 How exactly is INERY different from traditional distributed database?
A distributed database comprises a set of servers on a centralized infrastructure. It is also managed and controlled by a single entity. So while the data is distributed, the entire control remains in the hands of a single entity.
Inery’s decentralized database does not have a central owner or a single authority. The entire data is spread across multiple servers and controlled by several nodes or users.
- I read that one of the use cases that Inery will offer is “Health Care”, but really, how will Inery’s technology benefit in this utility? Could it be that having a faster and more scalable blockchain would facilitate performance in “Health Care”?
So for healthcare, some of the applications that Inery supports includes securely managing patient’s data, tracking and tracing drugs to avoid counterfeit activities, interoperability of data between different verticals and stakeholders of the healthcare industry, and patient’s right to remain in control over data-assets.
CF: 📌 Seems like there’re many things to exchange, but I’m afraid the time is up now. For all of the questions that have not been answered yet, guys feel free to search for more information on the links provided below:
➡️ Website: https://inery.io
➡️ Twitter: https://twitter.com/IneryBlockchain
➡️ Telegram Community: https://t.me/inery_blockchain
➡️ Telegram News Channel: https://t.me/inery_channel
➡️ Discord: https://discord.com/invite/inery
➡️ Reddit: https://reddit.com/r/Inery/
➡️ Youtube: https://youtube.com/channel/UCLDa45z8agwE2F7m51KV2cg
Much appreciation for your insightful responses in Crypto Family Trading Group today, we all hope Inery Blockchain will expand its ecoystem and gain mass adoption in the future!
Hope for more chances to collaborate with this wonderful project someday. Goodbye and see you soon👋👋