The importance of data in today’s world cannot be overemphasized. From innovation and design to marketing and development, corporations and government institutions need data for their daily operations.
However, data ownership, usage, storage, and management are poorly handled in the digital age. Many companies collect, store and use customers’ data without their consent, thus leading to data security and online privacy issues.
In mild cases, customers are bombarded with annoying ads, and in worse case scenarios, security breaches lead to data leak, leaving users’ information at the mercy of bad actors. This has led to a lack of trust on the part of users, as they fear that businesses will misuse their data.
But Inery blockchain has stepped in to solve the data security and online privacy issues plaguing both users and businesses. The platform aims to give users total control over who they share data with while providing high-level security for the shared data.
About Inery Blockchain
Inery positions itself as the first layer-0 blockchain that provides a solution for decentralized database management. Inery offers a secure and trusted foundation to enable businesses from across the globe to efficiently manage their data.
The blockchain network was designed to address the issue of database decentralization. It integrates key features of blockchain technology, including immutability, security, and decentralization, with distributed database properties.
Inery promises to provide high levels of security and transparency for its clients with its immutable records of data ownership, storage optimisations, and security enhancements. The network is designed for users seeking the efficient performance of their applications without compromising on security.
Inery caters to the needs of businesses that need user data to thrive, creating a middle ground for the safe transfer and management of data.
How Does it Work?
Inery sets the base for web3 future to enable value creation by seamlessly connecting with other systems, applications, and layer 1 networks.
The network has its version of smart contracts dubbed value contracts. These value contracts can verify data and automatically implement transactions without the need for intermediaries. These contracts pre-define permissions, including data ownership and access.
This ensures that unauthorized entities do not gain access to user data, giving users total control over their data and the option to share it with whoever they choose to. The cross-chain infrastructure implemented by Inery facilitates the seamless flow of data while maintaining a high level of security.
Unlike traditional database networks, Inery does not have a central server that is controlled by a single entity. Rather, it eliminates all middlemen and ensures that everyone on the network owns the information while restricting access to unauthorized entities.
The unique blend of data management infrastructure, immutability, security, and decentralization applied by Inery gives users the satisfaction that they have total control over their data and that it is secure.
Additionally, it mitigates the risks of data breaches and thefts since it is impossible for hackers to gain control over data on a network that is distributed across various parts of the world.
To prevent permanent data loss, Inery Blockchain integrates a free solution for database backup to help businesses protect their data by reserving database copies.
Inery Blockchain offers the following features to users:
Inery provides a high level of security for user data. By employing cryptographic mechanisms and top-notch encryption systems, Inery ensures that data cannot be manipulated by anyone.
- High Throughput
Inery Blockchain is designed to meet the enterprise needs of modern-day businesses by achieving high throughput and low latency, ensuring that transactions are processed at a faster pace.
The Inery network currently processes over 5000 transactions per second, which is faster than several top blockchain networks in the industry.
- Energy-efficient and Low Cost
The network uses a proof-of-stakes (PoS) consensus mechanism. This helps to reduce its energy consumption compared to proof-of-work (PoW) networks. Additionally, Inery offers some of the lowest processing fees on the market.
The INR Token
INR is the native utility token of the Inery Blockchain. It secures and powers the activities carried out on the network. The token can be used to access the products and services in the ecosystem. Users can stake their tokens to earn transaction fees and other staking rewards.
The token also serves as a governance token, allowing INR holders to vote on certain decisions that dictates the future of the project.