Inery
 | |
| Original author(s) | Naveen Singh Suhag, Ivan Vujic |
|---|---|
| Developer(s) | Inery Blockchain |
| Repository | https://github.com/inery-blockchain |
| Engine | |
| Website | http://www.inery.io |
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Inery is a decentralized database management system built on a level-1 proprietary blockchain. The Inery ecosystem consists of two core products: the Inery blockchain and IneryDB, a decentralized database management system. The blockchain-based database system addresses some of the shortcomings of centralized database management systems by providing high throughput, cross-chain compatibility, higher levels of security, and scalability, catering to both Web2.0 and Web3.0 technologies.[1][2]
Inery’s blockchain can be used for creating decentralized applications (d’Apps), minting, creating, collecting, sharing, and owning NFTs within the ecosystem, GameFi, and DeFi.
It’s open-source, with consensus achieved using Self-Delegated Proof-Of-Stake, and integrates blockchain functionalities with distributed database management properties. Inery’s native token is called $INR.[3]
History
Inery’s inception started in 2018, and the company was launched in 2020 by Dr. Naveen Singh Suhag and Ivan Vujic, with the backing of world-renowned businessmen Simon Murray and Satjiv Singh Chahil.[4][5] Inery's vision is to bring a new data management model that guarantees higher speed and better security by eliminating a single point of failure, making it easier to develop dApps or implement this technology in many different sectors.
Inery launched its testnet in 2022 as part of the development process for its database management system.[6] The mainnet launch, along with the full launch of the Inery database management system, is currently projected to occur in 2023.
Technology
Inery uses a Self-Delegated Proof-Of-Stake consensus mechanism that enables users to delegate their stake to a validator of their choice, rather than having to run a node themselves.
Value Contracts, which are used by Inery, are curated for industries that prioritize data management and facilitate secure and trustworthy actions between users and the network. They consist of function definitions, multi-indexed tables, and a dispatcher, enabling users to create virtual databases with predetermined rules, pre-defined permissions, encryption, and replication to ensure data security and transparency.
As of 2023, Inery’s team has been working on an AI integration into their database management system called “IneryDBAI”. It enables the processing and analysis of large data volumes, supports machine learning and deep learning initiatives, facilitates the hosting and managing of data science models, and optimizes resource utilization in managing complex data for training models.
Partnerships
In September 2022, Inery established strategic partnerships and received investments from Truth Ventures and NexBloc.[7][8] In addition, Inery secured a $128 million investment from venture capital firm Metavest. The same month, Inery secured a $50 million investment commitment from GEM Digital Limited for the launch and listing of its $INR token. Later, in November 2022, Inery entered a strategic partnership with Indian Government-owned aerospace and defense electronics company, Bharat Electronics Ltd.[9]
References
- ↑ LTD, FINTECH VENTURE AG & (2021-10-07). "Inery Blockchain Releases a Decentralized Storage and Database Solution". GlobeNewswire News Room. Retrieved 2023-03-09.
- ↑ Shah, Manan. "Council Post: A Decentralized Approach To Database Management". Forbes. Retrieved 2023-03-09.
- ↑ Blockchain, Inery (2022-09-28). "Inery Token $INR Goes Live on Huobi Following Successful VC Raise". GlobeNewswire News Room. Retrieved 2023-03-09.
- ↑ Blockchain, Inery (2022-08-02). "Founder of Orange Telecom and Ex-Chairman of Glencore Joins Inery Blockchain as Chairman". GlobeNewswire News Room. Retrieved 2023-03-09.
- ↑ "Ex-VP of Global Marketing of Apple Joins Inery As Principal Advisor to Help Drive Mainstream Adoption". Bloomberg.com. 2022-09-21. Retrieved 2023-03-09.
- ↑ Bhat, Divsha (2022-08-29). "Inery Blockchain launches its first public testnet". Retrieved 2023-03-09.
- ↑ "Inery Blockchain Closes Strategic Partnership and Investment with Truth Ventures Fund". Bloomberg.com. 2022-09-21. Retrieved 2023-03-09.
- ↑ "Inery Announces Strategic Partnership with NexBloc". Yahoo Finance. Retrieved 2023-03-09.
- ↑ "BEL taps Motorola, Bosch, INERY for cooperation in tech fields". Techcircle. 2022-11-04. Retrieved 2023-03-09.
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