Review on Tellor by francis fernandez
Tellor: decentralized oracles connecting real world information to the blockchain
In the cryptographic industry every day it is more necessary to handle accurate and timely information of the constant changes of digital assets; either to make investment decisions or to provide advice to e-commerce users.
There are many sources of information. However, not all of them are reliable. The oracle system represents a secure tool to reliably extract data from the real world.
Tellor is a digital asset that operates the platform that serves to link blockchain technology to the physical world through the use of oracles.
The Tellor platform integrates asset holders, validators and data providers under a single blockchain to supply real-world information to the network.
Token:
TRB is a decentralized oracle that operates on the Ethereum network. Because of that it is an ERC-20 token.
The TRB token is used to generate income distributed among the members of your community.
Technology:
Tellor has robust mining that uses the Proof of Work (POW) consensus mechanism for miners to strive to get the data that will be contained in the chain's smart contracts.
The platform's oracle system allows real-world information to be injected into smart contracts to execute chain-linked operations.
Utilities:
• It allows to reward miners for sending information to the blockchain.
• It allows to integrate real data and link it to the block chain.
• It serves to offer useful information for making financial decisions.
PRO:
Pros
- It is a useful tool to include real data in the blockchain.
- It is a decentralized and secure platform
- It serves to monetize the flow of information between blockchains.
Cons
- Its value is not tied to a stable value currency.
