Review on Tellor by Eltun Həsənov
About tellor
TRB Coin (Tributes) is the token that powers the Tellor Oracle network. The TRB coin encourages miners to provide data, keeps oracles safe, and allows dapp applications to request on-chain data.
Tributes coin has many uses on the platform. First, users can use TRB to request the specific data they need, and when a miner sends the data on-chain, they get paid with TRB as reward.
Second, all miners need to invest TRB in the Tellor smart contract in order to compete and start mining. This is because when a miner tries to send a bad piece of data, its value can be challenged, and then transactions can be stopped for malicious intent. Finally, as can be expected, TRB can be used to vote in the system.
In addition, according to the platform's explanations, the Blockchain network is mostly a network that does not work with other applications. Tellor states that they aim to solve exactly this. Stating that blockchain is great systems that allow reliable financial contracts, the Tellor project states that when accessing information that is not in Ethereum such as BTC / USD price, interest rate and even sports score, this data should be trusted to third parties to be placed on the chain. At this point, Tellor is getting rid of these central parties by using a network of miners competing to get data from smart contracts.
Pros
- no bad direction
Cons
- no good side
