What is necessary for Web3 to fully replace Web2?

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Web3 is the buzzword that's connected everyone's lips — but erstwhile you enactment the mania speech for a moment, there's a burning question that needs to beryllium asked: Can these projects afloat regenerate Web2… and what stands successful the mode of this happening? 

The likes of Google and Facebook person made a sidesplitting during the Web2 era, amassing billions of dollars successful profits and a profound power implicit the signifier of the internet. But their continued power is acold from guaranteed. The 30-year past of the web is littered with the collapses of once-indestructible companies… MySpace being a notable example.

Amid countless concerns implicit however the information of users is harvested and used, positive fears that contented creators aren't being decently compensated for their hard work, Web3 is positioning itself arsenic a democratizing unit that puts powerfulness backmost successful the hands of the public. Even the Web2 giants themselves spot the imaginable of this caller attack — it's been astir a twelvemonth since Facebook changed its sanction to Meta and declared plans to absorption connected the Metaverse. 

While the imaginativeness and ambition of Web3 startups is to beryllium applauded, determination are challenges that indispensable beryllium tackled. Critics rightly constituent to the immense vigor depletion of immoderate blockchains — particularly those based connected a Proof-of-Work statement mechanism. They reason that creating a level playing tract online can't beryllium astatine the disbursal of the environment. And with a dizzying fig of DeFi protocols and cross-chain bridges falling unfortunate to eye-watering hacks, with billions of dollars lost, determination are information issues to instrumentality into relationship arsenic well. 

For Web3 projects to execute their afloat potential, the infrastructure they trust connected needs to person afloat decentralized information absorption — and that means eliminating a reliance connected centralized unreality providers specified arsenic Amazon Web Services. Owners request to beryllium successful the driving spot too, and blockchains person to beryllium immutable, affordable and much eco aware. Ticking each of these factors is nary mean feat.

Big ideas, worrying teething troubles

The Metaverse has been touted arsenic a $1 trillion accidental by JPMorgan — a metallic slug that could revitalize the euphony manufacture and reinvent the mode we enactment and play. But earlier virtual worlds genuinely spell mainstream, tricky information and privateness challenges indispensable beryllium overcome. A deficiency of interoperability risks lasting successful the mode of adoption, too. And portion the net was beauteous clunky successful the aboriginal days, Metaverses person a agelong mode to travel earlier they're usable and intuitive. The aspiration of radical utilizing blockchain exertion without adjacent realizing is immoderate mode disconnected yet.

And that brings america to immoderate of the different usage cases that person been projected for blockchains. A fig of entrepreneurs firmly judge these immutable ledgers could resistance the healthcare assemblage into the 21st period — ensuring aesculapian records are decently digitized and easy transferred betwixt facilities. Here's the problem: this is an manufacture that has copious amounts of data, and diligent confidentiality is sacrosanct. Big opportunities prevarication up for networks that tin execute interoperability, immutability, security, transaction transparency, and aesculapian information sovereignty. Blockchain could besides beryllium thing abbreviated of revolutionary if it tackles the sheer measurement of fake medicine that's successful this abstraction — with immoderate estimates suggesting 10% of the drugs successful circulation are counterfeit.

So… what's the answer?

Inery is simply a Layer 1 blockchain that aims to tackle immoderate of these burning issues — seamlessly connecting systems, applications and a plethora of networks. Its database absorption solution, IneryDB, champions precocious throughput, debased latency and analyzable query hunt — each portion ensuring information assets stay afloat controlled by their owners.

The squad down this Proof-of-Stake web accidental it's scalable, resistant to Sybil attacks, vigor efficient, tamperproof and speedy — susceptible of achieving 5,000 transactions per second, with caller blocks created each fractional a second. All of this is achieved without compromising connected security.

Dr Naveen Singh, the CEO of Inery, told Cointelegraph: "With Inery, our efforts are focused connected envisioning a decentralized, unafraid and environmentally sustainable architecture for database management. Inery enables an affordable and scalable solution that allows radical to contented and power information assets to activate a caller paradigm for information accessibility."

Inery says it's already achieved a fig of large milestones, and has been listed connected Huobi. The network's testnet has present been launched, and it has secured a $50 cardinal concern committedness from GEM — arsenic good arsenic different contributions from the likes of Metavest and Truth Ventures. It's besides attracted immoderate big-name talent. The laminitis of Orange Telecom present serves arsenic chairman, and the ex-VP of planetary selling astatine Apple is joining arsenic a main advisor.

Looking ahead, the task wants to participate into strategical partnerships that volition unlock compelling usage cases for its systems successful much industries. It's hoped that the mainnet volition motorboat successful the archetypal 4th of 2023 — paving the mode for developers and users alike to decently observe what the aboriginal of Web3 should look like.

Learn much astir Inery

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