There is huge excitement for the metaverse space: From big banks to tech organizations, everyone is banking on this emerging trend. Analysts at JPMorgan Chase predict the metaverse to be a $1-trillion opportunity. However, there is a considerable amount of work that needs to be done for the metaverse to be an open and thriving ecosystem.
With a first-mover advantage, Inery is a decentralized database management solution (IneryDB) that enables cross-chain operability for content and data from one metaverse platform to another. This creates interoperability of data between different platforms and systems, thereby enabling a metaverse space that offers the broadest impact possible.
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. The major concern is that the data stored is restricted to the blockchain or the metaverse platform.
Several individual platforms are misinterpreted as the metaverse with this current design framework. In practice, users can’t exchange content and data assets without performing complex manual actions. Users cannot exchange nonfungible tokens (NFTs) from one platform to another as each has a different set of standards.
Therefore, this creates a disconnect for users wanting to capture the potential of the metaverse at its full capacity. In addition, the lack of interoperability leads to complex architecture for new users.
Achieving cross-chain in the metaverse
The blockchain project Inery provides a potential cross-chain solution for users to interact with their data assets in the entire metaverse domain. This shifts metaverse from a platform-specific space to an open ecosystem for mass participation and benefits. Inery achieves this by building the first-ever decentralized database management solution.
IneryDB combines the best of two worlds: both blockchain and legacy database management systems. It offers a secure, decentralized and distributed infrastructure along with fundamental functions of low latency and query capabilities. This solution lets users capture, store and manage data from a decentralized database instead of independent platforms and systems. Using IneryDB, 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.
Using metadata management
The InterPlanetary File System and decentralized file storage services are missing a major gap in decentralization — database management services. Unlike others, IneryDB fills the gap to build a database management service optimized for the development of decentralized applications.
Inery’s database management solution is equipped for fundamental functions such as CRUD — create, read, update and delete — and query capabilities that have been completely absent from today’s decentralized file storage services. It is optimized to leverage the best of the blockchain architecture with conventional database services.
IneryDB offers this by incorporating metadata management into its architecture. Metadata refers to the description or key content related to any kind of data asset, including files, images, spreadsheets, photos, audio and more. This allows users to search and access specific data from the IneryDB library. Moreover, the metadata is distributed across multiple servers or nodes of the Inery blockchain, enabling a completely decentralized architecture.
The metadata on Inery is specific to Web3 data in the metaverse. It is on-chain, available for users, controlled by owners and can easily be shared via the Inery blockchain. This solution will pave the pathway for Web2 structures to merge and build on Web3.
Inery has the potential to change the dynamics of the metaverse to open up opportunities for metaverse accessibility to as many people as possible.