Review on Tellor by Toprak Dere
About Tellor
Tellor is a DeFi project. It offers a decentralized Oracle service built to bring high value off-chain data to smart contracts.
Data feeds are stable and reliable because they use stake miners who compete with Proof-of-Work to send official value for the requested DeFi data.
TRBs are extracted with each successful data point, but 10% of it is taken by the company for ecosystem development. This developer share goes to the founding team's treasury to fund the team's efforts.
Tellor says this is necessary "to maintain an affordable coin price for profitable mining and a secure network," and as a result it sets incentives between the miners and Tellor's founding team.
๏ปฟ
The fact that TRB coin was among the DeFi tokens, which became popular cryptos especially after the DeFi explosion, was enough for TRB to attract the attention of investors. TRB coin, which gained more popularity with its increasing price after important stock market listings, seems to continue to progress by gaining power in the platform behind it.
๏ปฟ
Pros
- decentralized for high value off-chain
- high security in the processed data
- data bank where the network of miners compete data points
Cons
- token must be supported by more Exchanges
