we hosted an amazing AMA with inery on the 9th of August
And here we will put some of the best questions:
Q1. Can you please introduce yourself as well as Inery ?
Hi everyone, I am Vincent Irlweck leading Inery as the Chief Marketing Officer. I am basically from Germany. I volunteered to join the German military in November 2016. After hard-core training, I graduated top of my class for physical and mental examinations. During my military career, I underwent several different courses including for the Special Force and Combat Medic. One of my major transformations in military happened when I was deployed to Syria in 2018. Post my deployment in Syria, I left the military and got into trading crypto. For the first couple of months, I kept losing money but I kept on learning the intrinsics of trading which led me to secure my first million dollar. I wanted to pass the strategies and skills that I acquired over the year. So I started to build a community in Europe and would hold seminars and webinars and gradually more and more people started to grow interest. The community grew so big, of around 30,000 people, that there were around 10-15 instructors teaching in several different parts of Germany.
The phrase big data has been around since the development of web 2.0. It holds incredible potential for enterprises, who armed with the right data at the right time can deliver better performance, financial results, and optimize user experiences. But to unleash the true value of data, enterprises need a reliable data architecture which enables them to manage their data sets in a secure and effective manner.
And this aligns with our mission at Inery which is to initiate a paradigm shift for data accessibility and we are doing it with a decentralized database management solution – IneryDB.
Inery 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.
Q2 .What are the advantages of Your project ?
The first is that it’s a layer-1 protocol. There have been several attempts at creating decentralized storage and management systems. However, most of the protocols met with failure as they were adopting 3rd party blockchain or service provider solutions. Inery is built from the ground up as a blockchain optimized for database management.
Secondly, it offers Language support and multiple libraries. Inery is mainly built on C++ code to enable the integration of multiple libraries and make the development process seamless. IneryDB offers libraries for database integration in the most popular programming language including Python, Php, Nodejs, C#. Developers can find the necessary functions and structures for integrating the blockchain database.
And thirdly, it is Optimized for database management functions. Most protocols that exist in the market today are limited to ease of useability and graphic interface. Inery goes a step beyond by integrating query capabilities and CRUD functions on a decentralized ecosystem – a functionality that has never been introduced in projects before.
Q3. please tell us about the goal you want to achieve in this year.
Well, at the moment, our entire team is focused on our first public testnet release this month. the team is currently working on the testnet to ensure that everything goes smooth. To celebrate our milestone, we also have marketing events like the Level Up campaign which is ongoing and you can find more information on our social media platforms. We will also be releasing more info on the testnet very soon in the upcoming days.
There are a bunch of things after the testnet that we plan to do this year. But for that you will have to follow our social media channels and get your scoop there 🙂
💬 Telegram Community (https://t.me/inery_blockchain)
🔈 Telegram ANN (https://t.me/inery_channel)
🐦 Twitter (https://twitter.com/IneryBlockchain)
🔺 Reddit (https://www.reddit.com/r/Inery/)
⭐️ Discord (https://discord.com/invite/inery)
🔔 Instagram (https://instagram.com/inery_blockchain?igshid=YmMyMTA2M2Y=)
Q4. Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
So the mastermind behind the project are Dr. Naveen Singh and Ivan Vujic. Dr. Naveen started his career as an Olympic wrestler. He has represented India and Switzerland at international level wrestling competitions. While serving first for the Indian team and later on for Switzerland, he achieved several National medals. He has been in the technology space with my startup in Telecommunications in 2008-2009. Over the years, his company engaged with various database management solutions. This forced him to understand the dynamics of data and how data is hoarded so its value stays latent and wasted. One of the technologies that repeatedly came up while trying to find a solution for unleashing the true value of data was blockchain. So around 2015, Dr. Naveen started to closely follow the different blockchain solutions and their efforts to decentralize data. And during this study, he identified a potential drawback. While many blockchain solutions were trying to distribute data, it ultimately pointed to a certain degree of centralized control in how data is stored and managed. He found that no solutions were truly decentralized. And so in 2018, he, along with Ivan, came up with Inery with the mission to initiate a paradigm shift for data.
And Ivan, who is also the CTO of Inery has over 15 years of experience in the IT and blockchain fields. He lead his team to develop several IT projects from scratch like centralised crypto exchange, peer to peer communication App, Healthtech big data mining ecosystem etc. He has also served as a business advisor for digital assets and IT field on various companies advisory board in Germany and Switzerland.
Simon Murray, well known for his leading roles in some of the most established companies worldwide, including but not limited to the Chairman of Worlds largest commodity company Glencore in Switzerland, Executive Chairman of Deutsche bank group Asia, Group Managing director of Hutchison Whampoa LTD, Founder of Orange mobile company and Distacom telecom, serves as the Chairman of Inery.
He served as an advisor and/or on the board of Vodafone, Tommy Hilfiger Corporation, Hermes, Vivendi Universal, Macquarie bank, N.M. Rothschild, General Electric USA, China National Oil Corporation(CNOOC) and many more.
Simon Murray has been awarded the Order of British Empire (CBE) by H.M. The Queen and the Order of Merit of the French Republic
Q5. NFT is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? Do you think NFT will disrupt the current financial system? What is Your project’s approach to the NFT sector?
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.
And here we will put best questions from our members and inery fans:
Q1. Could you briefly explain the most important milestones that the your team aims to accomplish before the end of the year or in the future? What could your project look like in 2022 and beyond?
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.
And at the moment, our team is working hard for the upcoming public testnet launch of Inery which will mark another integral milestone for our project.
Q2. The first layer 1 blockchain, Inery, offers the decentralized database management system. How will this ground-breaking solution enable a new data paradigm and establish the foundation for web3 by seamlessly interacting with layer 1 systems, apps, and networks?
Answering your first question. for instance, let’s say that you have successfully completed an online course on a metaverse platform. The record of this certificate will permanently be stored on Inery with proven ownership of it.
And it is a blockchain with cross-chain interoperability. So it can connect data with other systems, applications, and networks.
Q3. In recent years, technologies around the layer 2 blockchain, solutions have developed dramatically. How does $INR fit into the boom of layer 2 networks? What makes it $INR and different from all other platforms of this type?
Like I highlighted before, Inery is different from layer-2 networks in a variety of different ways. The first is that it is a layer-1 protocol which offers database functionalities. It 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.
$INR token serves many use-cases in the blockchain ecosystem such as:
Being a Validator to secure the Inery blockchain by relaying transactions, verifying, and finalizing blocks.
Accessing the products and services for database management with $INR such as decentralized storage.
Users can stake $INR tokens in staking pools to earn transaction fees and staking rewards.
Inery’s Grants program offers recurring grants disbursed in $INR.
Q4. Regarding Inery’s database management solution (IneryDB). How useful is it within your ecosystem and for users? How will this protocol manage to provide high performance, low latency, complex query lookup and owner-controlled data assets?
IneryDB will be built a layer on top of Inery blockchain. So any information from any decentralized application can be managed on DB. You can also use libraries, search functions, and complex query functionalities from DB to manage your data.
Q5. Many projects look great only on their whitepaper & Roadmap but facing a lot of difficulties when trying to implement the project mission and end with failed. How does $INR overcome every obstacle in its project development?
We are quite different from other projects. Most of the projects launch with their ideas and give a plan on how they will develop their product. While we have started our development back in 2020 and will be launching our testnet even before our IDO launch.
Q6. Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
we are in global market, we are targeting enterprise , healthcare and more more company who can use our IneryDB, and we are open for partnership who can come and bulid thier project on our blockchain. And our main focus is on decentralized database managment system
Q7. Does your project have any ongoing airdrop now?
Right now our ongoing is Level up program, in that you can complete the task and earn rewards in Xp points, after the completion of this program , when our token launch you can convert that XP points into INR token with the decided ratio.
Q8 I’m excited for the IneryBlockchain Public Testnet which will be released tomorrow August 10 2022.
Could you please share more details concerning the testnet, can users participate in this testnet session and give feedback?
If you are developer then you can participate in Public testnet program, in that are many things you can do it , you can become lite node, master node and you will get benfits from this all information will be announce in our social media you need to stay tune for more updates
Q9. Has $INR launched? What DEX is it on?
Right now we are in talk with tier 1 Exchanges, once we get the green light from them , you can buy our token from the exchanges, after cex listing we will go for dex lisiting also
You can find us here:
And this was the end of our AMA with inery.