Review on Tellor by Fanuel PORPORTY

Name: Tellor
Item: Tellor
Rating: 4

November 05, 2020

Tellor : The database supported by minors who are encouraged to provide accurate data.

I recently discovered the Tellor project which is an oracle for decentralized finance through Cryptopolitain and I quickly saw the potential of porojet.

WHAT IS THE TELLOR PROJECT?

DeFi protocols to work need outside data, for example an update of the prices of cryptos against the USD. Like ChainLink, Tellor is an oracle that is going to be applied to decentralized finance to avoid problems in protocols. Tellor provides DeFi protocols and dApps an infrastructure enabling them to make real data requests from this Oracle.

HOW IS TELLOR DIFFERENT FROM CHAINLINK?

ChainLink is a faster than decentralized project unlike Tellor which has placed more emphasis on decentralization. The ChainLink project has only a few nodes identified and authorized to publish data to the Oracle but remember that nodes are very expensive. To be a minor on the Tellor project, all you have to do is have 1000TRB to provide data to the Oracle, in addition the confidentiality of minors is at the heart of the process. All these aspects make the Tellor project a more accessible project. Another great feature of the tellor project is that it is possible for holders to view data.
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