The session of AMA ( Ask Me Anything ) with Inery Blockchain was conducted on 24 Feb 2022 at 5:30 PM IST (12 PM UTC) and lasted for 1 hour.
Vincent Irlweck from Inery Blockchain has joined us for this AMA session.
Please tell us about yourself and the team working on INERY Blockchain?
I started working in the German special forces and found my love for crypto 2017 through a tip from an old school friend. So in 2017 I got into crypto Trading and turned freelancer Trader after leaving the military. With these skills, I build a community of Crypto Enthusiast of around 30.000 people. I saw many projects come and go through the ICO Era 2017–18 and when I saw Inery I knew I gotta be involved. We have some incredible team members and advisors onboard. We have our CEO Naveen Singh Suhag, a Switzerland-based entrepreneur with over 15 years of entrepreneurship experience. But before starting his illustrious IT career, Mr Singh was an Olympic-style wrestler, representing both India and Switzerland at the national level. In the past 15 years, he worked with both startups and large-scale companies and as a blockchain-enthusiast closely observing developments in this field.
We also have our CTO Ivan Vujic who has over 10 years of experience in the IT and blockchain fields. Apart from leading a team to develop several IT projects, he has also served as a business advisor for multiple companies. Our team is quite diverse. We have members who are well-versed in the crypto and blockchain industry which is definitely a huge advantage for us.
What is INERY Blockchain? Please provide a detailed introduction.
Our initial inspiration for Inery stemmed from creating a more democratized place for data access and control of our assets as well as empowering users and organizations to manage their database on a secure network. So what we did was combine the conventional database management properties with blockchain functionalities. This enabled us to create a more secure, immutable, decentralized and owner-controlled architecture for database management. Inery is a layer-1 blockchain that addresses solutions for database management. Inery is designed to tackle the current challenges faced by other blockchain networks such as energy inefficiency, poor interoperability between different networks, limited performance and immature governance mechanisms. Our solution is designed to enable cross-chain interoperability to allow data transactions without compromising its security. Further, we have also designed its architecture to be eco-friendly and environmentally sustainable to achieve high throughput and performance with tps up to 4800. The governance mechanism of a decentralized DAO allows cleaner and quicker resolutions and upgrades to the overall ecosystem.
Can you please tell us about it’s features and Utility? How INERY is different from other Blockchains?
Inery is different from other blockchains in the following ways: The first one is that our solution is designed to enable cross-chain interoperability to allow data transactions without compromising its security.
Secondly, we have also designed its architecture to be eco-friendly and environmentally sustainable to achieve high throughput and performance with tps up to 4800. Further, the governance mechanism of Inery is designed to be a decentralized DAO that allows cleaner and quicker resolutions and upgrades to the overall ecosystem.
Why do we need a Decentralized Database Management Solution? Also share your Roadmap.
Data interacts with almost every aspect of our lives. From our personal identities and financial information to the most confidential data of organizations — it remains the most valuable as well as the most vulnerable resource. Database management systems, commonly used for the creation and management of data, helps enterprises to support their operations and empower individuals to better navigate their personal and professional lives. However, the current systems for database management have become redundant. Conventional database management solutions are strife with complications, lack of secured infrastructure, and absence of user control over their data assets. This is why need a decentralized database management solution like Inery
To share our roadmap,
We started with Inery way back in the first quarter of 2020. We have achieved quite a lot of milestones in these two years. On the development front, we have successfully completed several phases including testing the core of Inery blockchain API function, value contracts, adding nodes to the ecosystem, testing blockchain deployment on several servers and a lot more. We have also released two versions of our technical paper, created documentation, branding, and have started community building. Some of our upcoming milestones include mainnet launch, upgrading contracts with all major query types, and our public launch. You can check out our detailed roadmap on our website: https://inery.io
A strong community not only brings interesting ideas to the project, but also attracts larger partners. So how does Creator plan to build his community? And are there any plans to recruit people with Blockchain experience to the Creator team?
We are working on a number of different things. We have started our Discord Invite Challenge that rewards users with guaranteed allocation in INR token sale and cashback rewards. We have started to engage in fun ways with our users on Discord. So make sure that you join Inery’s Discord and have fun participating in different competitions. In the future, we are planning to bring many more interesting activities that will cater to a diverse community.
As for recruiting people, we are working on the Ambassador program that will help us build an army of Inerians. We want people to be able to connect with us and feel part of what we are doing and where we are going.
As a blockchain, Please share key performance indicators of the chain, such as the Number of blocks per second, time to completion of a transaction, transaction speed, cost per transaction, or something else? Can #IneryBlockchain compete with other networks?
Inery blockchain supports parallel processing to enable high performance and scalability for secure development. Its consensus algorithms ensure higher transaction rates are achieved that can reach up to 4800 per second, with blocks being made every half a second.
Can you tell us about the Inery’s cross chain?
Yes, Inery supports cross-chain compatibility to allow interoperability between different chains without compromising security. This architecture solves many problems that blockchain networks face today. Inery also serves 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 the transfer of data assets from one chain to another without compromising its security.
Join our socials to stay up to date
Medium : https://medium.com/@Inery.Blockchain
Telegram Community Channel: https://t.me/inery_blockchain
Telegram News Channel: https://t.me/inery_channel
What role do you think #IneryBlockchain will play in making blockchain highly adaptable in the worldwde stage?
I think it will play a major role since there is no other solution in the market that solves data management in the market. And everything in crypto is data
Can I earn a passive income from your project? Are there any staking options available for this?? What will be the benefit for holding tokens in long run?
There will be a staking solution, go to our website to read more about it inery.io
Ha Quoc Tuan
I Think NFT is really Popular topic for NOW What is your opinion regarding NFT?
I personally think NFTs are a cool idea that needs to mature. That's why you and creators will have the opportunity to build them on Inery
You has plans for almost everything related to a good cryptocurrency project, but I’m curious where that great confidence comes from? Why should an investor trust you?
First of all, thank you very much. You named it yourself. Because we believe in a good fundamental over hype and we financed the project through private equity and not Investor Money
Your Project has a plan to educate the community, thereby raising awareness, applying and helping more people understand you easily?
Yes, we are working on a foundation that will support project ideas and developers. Join our Telegram to stay updated https://t.me/inery_blockchain
Donald K. Davis
What is your strongest advantage that you think will make your team leading the market?
Our strongest advantage is that we are the first to do it. We believe we will make a big impact because we are solving fundamental issues of the crypto market
Is your project not just for speaking English in a few countries or for other language users?
It is a project for the everyday person and business owner who wants ownership over their data. So that's why we try to make it available in every language.
The AMA recorded many great questions from the Crypto Players India community, as well as meticulous answers from our guest Vincent Irlweck from Inery Blockchain. AMA Concluded at 6:30 pm IST.
CryptoPlayers is one of the oldest & largest crypto communities in India since early 2017. We are a group of 25000+ telegram members and growing.