Review on Tellor by Pedro O. Alvino M.
Delivering reliable data off-chain
Ethereum smart contracts are largely autonomous and off-chain data is restricted, so through a network of staked miners, Tellor's Oracle system enables reliable access to data information outside of the chain.
In addition, the system used through the incentive to the mining network for the provision of data, everything in the ecosystem acts in a decentralized way in which the data provided is totally feasible outside the chain.
Pros
- Reliable solution when it comes to off-chain data reporting when issuing an Ethereum smart contract.
- It aims to provide strong, high-quality price data.
- It acts as a data bank where the network of miners compete to aggregate the data points.
- It uses a proxy delegate architecture for its contracts.
- All the data collected within the Tellor ecosystem is decentralized from mining.
- It has two methods of incentives for its participants.
Cons
- Your token is required to be supported in even more Exchanges to increase project capital and offer better development features, which you need right now.
