Tellor TRB Price $ 55.04

Tellor (TRB) is a decentralized oracle platform for DeFi.

The main goal of the platform is to develop the DeFi industry, so Tellor acts primarily as a reliable source of high-quality price data. The developers have created a system in which parties can request the value of a data point outside the blockchain, and miners compete to add this value to the data bank inside the chain. Tellor's main smart contract creates a time series for each requested data series and aims to become a standard source of valuable data for decentralized applications.

The Tellor ecosystem includes a TRB token, which is used to stimulate participants and request a specific series of data from miners.

The TRB token pays for sending a data request to the oracle. A specific reward is assigned for each request, after which the oracle selects the most funded request (it happens every 10 minutes) and creates a task for the miners. Data collected on request becomes available across the chain. Miners who add an official data point receive a reward in the form of tokens.

TRB tokens are also used to protect the network and the voting system to verify data.