Inery: Web3 Database Management Solution

cryptonews.com:

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

Web2 internet monopolies have undermined the importance of data security to both individuals and corporations. As a result, data breach has become a more serious problem in recent years, with organizations spending up to USD 8.19 million and USD 8.64 million per data breach in the United States in 2019 and 2020 respectively, and a global average cost of $3.86 million per data breach. Between 2018 and 2019, identity theft rose by almost 46%. Thus, Web 2.0 has left behind user dissatisfaction, centralized processes, and poor data security.

Consequently, the centralized database has a lot of data access traffic that might lead to congestion. Because of a single access point, any attempt by numerous users to simultaneously access it causes an issue, which might undermine the system's efficiency. The high reliance on network connectivity hence determines the database access speed.

The centralization of many operations leaves the application with a significant lag in performance. Additionally, the external server is sometimes a monolithic database in only one cloud region, contributing to this latency. Inery steps up to solve the centralized database management issues by giving complete control to users, data security and online privacy. 

The data stored in a single access point deprives users of control over their data. The data centre is also prone to exploitations, failure, privacy compromises, server vulnerability, and massive traffic. Hence, decentralized database management systems like Inery are entrusted to bring security, interoperability, and data privacy to the users without sacrificing independence.

Blockchain may, in theory, provide