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.
Tellor's current share of the entire cryptocurrency market is 0.00%, with a market capitalization of $ 41.79 Million.
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