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INERY x Satoshi Club AMA Recap from the 3rd of August

Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from INERY . The AMA took place on the 3rd of August.

The AMA session was divided into 3 parts with a total crypto reward pool of $500. In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&WebSite

Mary | Satoshi Club

Hello Satoshi Club! We are happy to announce our AMA session with INERY! Welcome to Satoshi Club

Gold Rocket | Satoshi Club

Greetings, dear Satoshi Club community!

Today our guest is @Inery_CMO

Gold Rocket | Satoshi Club

Hello and welcome to Satoshi Club

Mary | Satoshi Club

@Inery_CMO welcome here

Vincent Irlweck

Hello @everyone

Mary | Satoshi Club

Hello! Nice to e-meet you! How’s going?

Vincent Irlweck

I am good

what about you ?

Gold Rocket | Satoshi Club

Nice to e-meet you

Vincent Irlweck

I am glad that i am the part of satoshi club for ama

Mary | Satoshi Club

We are great! And we are excited to learn more about INERY today!

Gold Rocket | Satoshi Club

We are really excited about upcoming AMA

Mary | Satoshi Club

Let’s start our AMA

Vincent Irlweck

Sure lets start

Gold Rocket | Satoshi Club

Thanks again for joining

Let’s start with the introduction to warm up.

Introduce yourself please. How did you get to be involved in crypto & INERY

Vincent Irlweck

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.

Gold Rocket | Satoshi Club

It’s really amazing background

Mary | Satoshi Club

Wow, from military to blockchain unexpected transformation

Mary | Satoshi Club

Sure, your skills help you!

Gold Rocket | Satoshi Club

Give us a brief introduction to the project. What is the essence of INERY?

Vincent Irlweck

Inery is the first-ever layer-1 blockchain offering the solution of decentralized database management with the vision to enable a new paradigm for data. Inery is designed to enable cross-chain communication of data, greater speed, and better security. It specifically addresses database management integrated with blockchain functionalities and distributed database management properties.

The Inery database management solution (IneryDB) allows a secure, low-cost, and immutable way for database management where the control of private information remains in the hands of users and enterprises. It sets the base for the web3 future to enable value creation by seamlessly connecting with other systems, applications.

Gold Rocket | Satoshi Club

How long does it take to develop a project? What plans do you have for the future? And what can we expect from INERY?

you are in absolute crypto trend

Vincent Irlweck

Once we have rolled out the public testnet, our next milestone is Inery mainnet. We will be optimizing our blockchain and database management solution by adding new features and functionalities. For example, one of the functions of database management solution is the CRUD functionality — which is to create, read, update, and delete.

Gold Rocket | Satoshi Club

Also we would like to know more about your team. Who is on the project team core?

Clear answer

Vincent Irlweck

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.

Gold Rocket | Satoshi Club

Dream team I gess

Vincent Irlweck

Simon Murray

Chairman

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

Wikipedia: https://en.wikipedia.org/wiki/Simon_Murray_(businessman)

Gold Rocket | Satoshi Club

This is a really cool team. Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?

Vincent Irlweck

Ready

Gold Rocket | Satoshi Club

Q1 from Telegram User @Danylko_UA

Hello, Inery blockchain Team!

I had gone through the Inery website, blogs and materials and I really do admire the general idea of the Inery Blockchain.

My question is a short one. Knowing well that these days almost everything revolves around DeFi, NFTs, GameFi. I am keen in knowing about the invention or perhaps the innovation that Inery has brought into the crypto space. What new functionalities can the Inery blockchain boast about? Can you clearly list out some problems that you have identified in the current DeFi space? What measures are you employing to solve these problems. Every investor’s aim is to make profits off their investments; can you tell me some few reason as to why we should invest in Inery? In what ways can we make a good profit off our investments on Inery (what is required of a user/investor)? Guide us through your plans for the next three months.

Vincent Irlweck

Haha, so these are a bunch of questions. Well, for one, Inery is not only a crypto project. Rather its a database management solution on a decentralized infrastructure. And we are doing something that has never been done in the database management space or the blockchain industry. Our product is going to bring transformation of data not only for decentralized applications but even for the web2 industries that we have today.

So, while building the product we observed that in the last couple of years, the conventional framework to store, access, share and distribute data has become redundant. This has led to an enclosed infrastructure where the very integrity and security of data is compromised. We’ve all heard about the countless user data hacks that have happened in the last couple of years as a result of this centralized structure. This entire foundation is crippled in the existing affairs of the internet, the version that we most commonly refer to as web 2.0. To transition to the next version of the internet, web 3.0, we need to change the systems that we’ve adopted till now. This means laying a new foundation for a more open, secure, and accessible data architecture.

Vincent Irlweck

So, in essence, we are doing something that has never been done before by any centralized players or blockchain projects in the space, our blockchain is programmed to address the fundamental requirements of database management.

Mary | Satoshi Club

What projects would you say are your competitors?

Vincent Irlweck

So it’s not a DeFi project. Its a blockchain project with use-cases in different industries including Metaverse, NFT, Healthcare, Supply Chains, etc.

Gold Rocket | Satoshi Club

This sounds revolutionary

Vincent Irlweck

Coming to your last question, 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 core of Inery blockchain API function, value contracts, adding nodes to the ecosystem, testing blockchain deployment on several servers and a lot more.

Mary | Satoshi Club

Great job

Vincent Irlweck

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.

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.

Gold Rocket | Satoshi Club

Thanks for your great answers are you ready for the next question

Vincent Irlweck

Now getting to this answer

Gold Rocket | Satoshi Club

Take your time

Vincent Irlweck

I would say that we are not really competing with anyone. We want to develop a project that uplifts the entire data structure and supports products and services of web3. Yes, our services do resemble, in some ways, to traditional platforms like MongoDB but it offers centralized services. And on blockchain side, our services resemble projects like Filecoin and Arweave. But while these solutions offer decentralized storage services, our ecosystem offers the entire stack for data management.

Gold Rocket | Satoshi Club

Q2 from Telegram User @ghostofcharmeleon

Hello, the INERY team.

The main problem and the most vulnerable point of blockchain and crypto is the insecurity of inter-network transactions. Bridges are hacked every day and users lose millions of their assets and tokens. The liquidity in your network can be taken by moving it from other networks. Do you already have a secure tool for transferring and connecting to already existing chains? How do you suppose that the user should integrate with their funds into your blockchain?

Vincent Irlweck

Our blockchain solution is also programmed for cross-chain compatibility. So this means that data can be communicated from one chain to another without compromises on security. And the network’s consensus mechanism is designed for environmentally sustainable architecture.

Inter-network transactions are secured in few layers, first there is needed scheme for transaction body, next there is authorisation layer that requires private key to sign transaction, after transaction is sign , 2/3 of producer nodes must verify that transaction is valid, only then changes are applied to network

Mary | Satoshi Club

It seems safe. Did you make any audits?

Vincent Irlweck

Yes we have done audit

Mary | Satoshi Club

That’s awesome! Where we can find audit reports?

Vincent Irlweck

Right now its private, once Public testnet is done will upload it on our website in document section

Gold Rocket | Satoshi Club

Thanks for your great answers let’s proceed with the next question

If you don’t mind

Vincent Irlweck

sure let move forward

Gold Rocket | Satoshi Club

Q3 from Telegram User @thisistoyin

Taking note that DAO is very important in every Decentralised System or platform. I would like you to talk about the DAO system in INARY.

I learnt that the governance mechanism of Inery is designed to be a decentralized DAO that allows cleaner and quicker resolutions and upgrades to the overall ecosystem. giving the Fact that our Platform Pry itself as Decentralised, Please can you kindly state how your DAO is structured? I’m really Curious in knowing more about the DAO in INERY. Does INERY have any form of Governance token within its Ecosystem? How about the Decision making within INERY’s Ecosystem? Who gets to make Decisions about the future Development and implementations of new Products and features within INERY’s Ecosystem?

Vincent Irlweck

Yes, so Inery’s governance will be a DAO. Everyone who stakes the token will be able to take part in the decisions. We are trying to get the ownership to the People so they can take charge over their own data.

In Inery, validators can vote on proposals and amendments that allow the network to upgrade and scale.

The DAO governance ensures cohesion and decentralization amongst stakeholders allowing cleaner and quicker resolutions as well as upgrades.

Mary | Satoshi Club

Do you have min/max to stake? When staking will be live?

Vincent Irlweck

Right now its not live, to get updates about the staking you need to follow our soical media.

Mary | Satoshi Club

Gotcha! We definitely will

Thank you for your answers! Ready to proceed?

Vincent Irlweck

yes

Mary | Satoshi Club

Q4 from Telegram User @ysasoma I have read on your website that the total supply of $INR tokens is 800,000,000 and that these can be wagered on Inery to earn more $INR tokens, so could you tell us, why did you decide that the total supply would be 800,000,000 $INR, besides betting $INR what are the other ways to get more $INR tokens within the platform, what are the other use cases of the $INR token and finally what would you say are the main features that will make the $INR token a token with a great future in the market today and in the future?

Vincent Irlweck

Correct. There will be in-total 800 million $INR tokens.

And the token serves many use-cases in the blockchain ecosystem such as:

-Governance which offers a right to vote and/or introduce governance proposals about upgrades in the Inery ecosystem.

-Being a Validator ro secure the Inery blockchain by relaying transactions, verifying, and finalizing blocks.

-Accessing the products and services for database management with $INR such as accessing 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.

Mary | Satoshi Club

Your token will go live together with your blockchain or earlier?

Vincent Irlweck

will be launching in the exchanges after september, its not decide but we are in talks with big tier 1 Exchanges once they will give us the dates will launch our token

Mary | Satoshi Club

Hmmmm, i think more exciting news are coming

We will follow your updates!

Thank you for your answers! Ready to jump to the next question?

Vincent Irlweck

ofcource

Gold Rocket | Satoshi Club

Q5 from Telegram User @MendietaCrypto

When we talk about the usecases of Inery’s solution, you mention that it can equally be useful for enterprises and goverments, financial institutions, GameFi world and healthcare. Could explain the particular areas of usage including the examples? Has it already been adopted by any of above mentioned organizations? If yes which are they? And how do you plan to expand the spread of Inery worldwide? Thanks!

Vincent Irlweck

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.

So, 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.

Mary | Satoshi Club

Do you already have enterprises which are ready to use your services?

Vincent Irlweck

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.

Vincent Irlweck

Yes we have some Enterprise who will adapt our technoloy, But we can not announce right now as per agreement, once everthing is completed you will able to see thier names

Mary | Satoshi Club

This means even more news incoming

Gold Rocket | Satoshi Club

commercial secret

Mary | Satoshi Club

Thank you for your answers! Ready for the 6th and last question from this part?

Vincent Irlweck

That’s correct

Gold Rocket | Satoshi Club

Q6 from Telegram User @GracieEne

According to an article of yours which I read, there are plans to launch Inery’s testnet, mainnet, and ambassador program. Has any of this event taken place? Inery is looking forward to launching its public testnet program in the upcoming month. Can you provide us with more information about this event? What kind of activities will be carried out during the launch of your testnet program? And what sort of benefits or incentives will Inery give to users that participate in the public testnet program?

Vincent Irlweck

Yes, so right now the entire team is prepping for the public testnet release which is in this month. On one end we are already developing programs and manuals for developers on how to test the blockchain platform and what can developers perform on the blockchain at the moment.

And to celebrate the testnet, we also have pretty cool marketing activities going on which gives our community different types of rewards.

To take part in the Public testnet Please join our Discord

https://discord.com/invite/inery

Mary | Satoshi Club

Thank you for this awesome first part, Vincent! Before we will go to the most exciting live part of our AMA i would ask you to share your social media links with our community and we will never miss any single update from INERY

Vincent Irlweck

🖥 Website (https://inery.io/)

💬 Telegram Community (https://t.me/inery_blockchain)

🔈 Telegram ANN (https://t.me/inery_channel)

🐦 Twitter (https://twitter.com/IneryBlockchain)

⭐️ Discord (https://discord.com/invite/inery)

🔔 Instagram (https://instagram.com/inery_blockchain?igshid=YmMyMTA2M2Y=)

💬Reddit (https://www.reddit.com/r/Inery)

✉️ Medium (https://medium.com/@Inery.Blockchain)

📝 Whitepaper (https://inery.gitbook.io/whitepaper/)

🟦 Youtube (https://bit.ly/youtube_inery)

Vincent Irlweck

Thank You

Mary | Satoshi Club

Thank you for sharing and… Are you ready for the storm of questions?

Vincent Irlweck

yes always ready

Mary | Satoshi Club

Let’s go

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Rog_2144

Many layer-1 solutions now experience problems like energy inefficiency, poor scalability, poor network interoperability, poor performance, and ineffective governance systems.
How does the Inery Blockchain fare in terms of the aforementioned issues?
The technical infrastructure development is designed for scalability with low transaction fees.

Vincent Irlweck

Our blockchain solution is also programmed for cross-chain compatibility. So this means that data can be communicated from one chain to another without compromises on security. And the network’s consensus mechanism is designed for environmentally sustainable architecture. As a blockchain design, we want to serve as a frontier for other networks with a governance mechanism that allows the network to upgrade and scale.

Q2 from Telegram user @dhruvrajmandora

Your public testnet is on its way, building a decentralized database management ecosystem is a monumental task that requires many different parts and people to work together in harmony. So will users be involved in this test? Where can we get access to this testnet?
Very soon

Vincent Irlweck

So, 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.

Q3 from Telegram user @mucana

What do you hope to achieve that other blockchains fail to do? What role do you hope to play in making the blockchain highly adaptable?

Vincent Irlweck

Many layer-1 solutions currently suffer from setbacks such as energy inefficiency, poor interoperability between different networks, limited performance, and immature governance mechanisms.

Our blockchain solution encompasses cross-chain compatibility that allows blockchains to interoperate without compromises on security, environmentally sustainable architecture that will serve as a frontier for other networks and a governance mechanism that allows the network to upgrade and scale.

Also, we have programmed our blockchain for database management. This will also serve as a frontier by being the first-ever database management solution encompassing cross-chain compatibility between different chains.

Q4 from Telegram user @Wong2008

How many TPS the INERY Blockchain can handle at the moment?

Vincent Irlweck

7000 TPS

Q5 from Telegram user 𝐙𝐈𝐂𝐎

What is your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?

Vincent Irlweck

1 Public Testnet
2 Token Launch in Tier1 CEX
3 Mainnet Launch

Q6 from Telegram user @ghrahniel

How exactly is INERY different from traditional distributed database?

Vincent Irlweck

A distributed database comprises a set of servers on a centralized infrastructure. It is also managed and controlled by a single entity. So while the data is distributed, the entire control remains in the hands of a single entity.

Inery’s decentralized database does not have a central owner or a single authority. The entire data is spread across multiple servers and controlled by several nodes or users.

Q7 from Telegram user @Ishan1_7

Do you conduct an ambassador program? If so, what criteria must a user meet in order to be considered for the ambassador program?

Vincent Irlweck

Yes our Ambassdor Program will launch after our token Launch, and all the criteria will be announceat that time

Q8 from Telegram user @burshanggal

I’ve noticed that IneryDB offers application cases in the healthcare, gaming, and aviation industries. Would you explain how these sectors might be affected by it?

Vincent Irlweck

So for healthcare, some of the applications that Inery supports includes securely managing patient’s data, tracking and tracing drugs to avoid counterfeit activities, interoperability of data between different verticals and stakeholders of the healthcare industry, and patient’s right to remain in control over data-assets.

For GameFi- 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.

Q9 from Telegram user @cindy0666

Do you have events that the community can attend to earn XP? Or do you have plans for the coming days?

Vincent Irlweck

Yes, so we have regular events for the community to gain XP and Level Up. Follow our social media channels to know our upcoming activities and reap rewards of Level Up

Q10 from Telegram user @Monkey_De_uiy

Does INERY BLOCKCHAIN support smart contracts? If no what is your plans in that matter?

Vincent Irlweck

Yes, Inery supports smart contracts. So our smart contracts, which we call as value contracts, can be coded in two ways: one that integrates the CRUD functionality and the other that doesn’t. So the value contracts which do not have the CRUD functionality cannot be modified.

Part 3 — Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

For more information and future AMAs, join our Social Media channels:

English Telegram group: https://t.me/Satoshi_club/
Russian Telegram group: https://t.me/satoshi_club_ru/
Spanish Telegram group: https://t.me/satoshi_club_spanish/
Telegram Channel: https://t.me/satoshi_club_channel/
Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/

Our partners:

Website (https://inery.io/)

Telegram Community (https://t.me/inery_blockchain)

Twitter (https://twitter.com/IneryBlockchain)

Medium (https://medium.com/@Inery.Blockchain)

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