Blockchain technology has disrupted a lot of industries and changed the way many things are done for the better. Different problems have been identified in different sectors and blockchain solutions have been created to solve these problems. One of such problems is the vulnerability of internet users’ data. Data is a valuable asset and a lot of advancements in different technologies have been built around data.
But users have no control over the data being collected from them by various internet services. Sometimes their data may be sold to advertising companies or cyber criminals disguised as advertising companies; either way, the users’ privacy is infringed upon. Also, some centralized database systems do not adequately protect users’ data thus, inadvertently exposing them to cyber threats.
A great solution to this problem has been provided by Inery. The Inery solution has been designed to bring about the decentralization of databases. The fusion of blockchain technology and database features has enabled Inery to give data owners a platform in which they can efficiently and securely store valuable and private information.
How does the Inery Ecosystem Work?
Inery is the first-ever decentralized database management system powered by Blockchain technology. It is a layer-0 blockchain solution designed to address database management solutions.The fusion of blockchain functionalities and distributed database has brought about a novel solution for handling data that is also highly scalable.This ecosystem provides users and businesses to take back control of their data. The ecosystem has two components and these are IneryDB and Inery Blockchain
IneryDB solves data management problems. As presently constructed, the conventional data management systems make use mostly of cloud platforms which are expensive to operate and maintain and are not completely safe from data loss. To prevent this a lot of time, storage and processing power is spent on backing up these data. Despite efforts towards security, they are still prone to cyber-attacks.
IneryDB solves these problems by providing top-notch security using cryptographic methods to add an extra layer of security to the data on its network. The data is also distributed across different nodes on the network which prevents data loss and manipulation. This enables a cost-effective alternative to the conventional database systems.
The layer-0 blockchain protocol is engineered to provide decentralized ecosystems and also present cross-chain capabilities that ensure secure data and value transfer. The Inery blockchain is driven by a network of different nodes distributed in different locations across the world thus, making it protected against cyber attacks and network failures.
The Inery Blockchain is also structured in a way that makes it highly scalable which solves one of the fundamental problems through its high throughput. Its transactional throughput is over 5000 transactions per second (TPS). This transactional throughput compared to Bitcoin’s TPS of 7 and Ethereum TPS of 14, is far superior.
The Various Use Cases for the Inery Ecosystem
Inery has built itself some flexibility through its highly scalable nature and unmatched security systems allowing it to serve a number of use cases in various sectors.
Enterprises and Governments
Inery’s blockchain and database management services can be employed by different enterprises and governments to launch applications, manage their assets, and access their data with total control, top-notch security, and transparency.
The Inery blockchain enables several use cases for the financial ecosystem thanks to Inery’s interoperability, high transactional throughput, and low transaction fees. It provides financial institutions with a reliable platform for issuance and management of assets, database security for banks, document access and tracking as well as trading of assets.
Inery’s secure platform can be beneficial in healthcare institutions for keeping track of and protecting patients’ records, drug tracking, and verifying the authenticity of products.
The next big thing in the gaming industry is GameFi. The application of Inery in this sector will provide users with a way of having proof of ownership over digital assets and also provides a suitable platform for users to mint, own, and trade their NFT assets.
The Bottom Line
Secure data is an important problem in many industries and finding a cost and energy-effective solution to this problem is paramount. Inery provides these industries with secure and fail-safe access to their data as well as total control over their data.