In the ever-evolving world of blockchain technology, the infrastructure that keeps everything ticking smoothly often goes unnoticed. Enter Tellor (TRB), a decentralized oracle protocol orchestrating a seamless connection between off-chain data and on-chain smart contracts. As an essential component within the blockchain ecosystem, Tellor enables the retrieval, validation, and secure integration of off-chain data, leveraging a competitive reward system to incentivize data reporters. By harnessing the power of open-source software, Tellor introduces a unique, permissionless approach to data reporting, ensuring that valuable information is promptly and reliably brought to a variety of DeFi applications. Dive in with us as we explore what sets Tellor apart in modern blockchain infrastructure.

What Is Tellor (TRB)?

Tellor is a decentralized oracle protocol designed to bridge the gap between off-chain data and on-chain smart contracts. Oracles are a crucial part of blockchain infrastructure, providing valuable off-chain data that smart contracts can utilize. Tellor's oracle supplies data that can be requested, validated, and put on-chain permissionlessly, with data reporters competing for incentives in the form of TRB tokens. These data reporters bring essential information on-chain for a wide range of decentralized finance (DeFi) applications.

What Makes Tellor Unique?

Tellor's oracle operates by incentivizing data reporters to submit valid data on-chain while disincentivizing bad reports through disputes and slashing mechanisms. Becoming a reporter on Tellor requires no verification process, making it a truly permissionless system. Anyone, anywhere in the world, can become a data reporter using open-source software—a distinctive feature among blockchain oracles.

When users request the value of an off-chain data point (e.g., BTC/USD), data reporters compete to add this value to an on-chain data bank, accessible by all smart contracts on the networks Tellor supports, including Ethereum, Polygon, and Algorand. The frequency of data updates is limited only by how much and how often users "tip" the feed with TRB tokens. Additionally, Tellor's data submission in bytes makes the oracle flexible and robust for nearly any blockchain application.

Who Are the Founders of Tellor?

Tellor was launched in 2019 by a U.S.-based team aiming to address the oracle problem on the Ethereum blockchain. The founding team includes Brenda Loya, Nick Fett, and Michael Zemrose.

• Brenda Loya: CEO and co-founder of Tellor, Brenda previously worked as the VP and Lead Developer at Daxia, focusing on blockchain, scalability, and data science. She also served as an economist and supervisory statistician at the U.S. Department of Labor.
• Nick Fett: Co-founder and CTO of Tellor, Nick founded Daxia, a derivatives protocol on Ethereum, before Tellor. He has experience in economics, regulation, derivatives, and machine learning, including positions at the U.S. Commodities Futures Trading Commission.
• Michael Zemrose: Co-founder and CSO of Tellor, Michael previously worked in business development at Daxia and was an entrepreneur in media and consulting before joining the crypto world.

How Is the Tellor Network Secured?

The purpose of Tellor's native token, Tributes (TRB), is to connect and align data reporters, oracle users, and community governance. Security is achieved through Tellor's governance contract, which uses a simple dispute mechanism to achieve community consensus on the data being reported. Data reporters must stake TRB tokens to report data and earn rewards. However, they can be disputed and slashed, with their stake given to the disputer if they submit data deemed incorrect by the network.

More information on securing the network and the theoretical cost of an attack can be found here.

Where Can You Buy Tellor (TRB)?

If you want to buy, sell, or trade Tellor (TRB), you can do so on the following exchanges: - Binance - Huobi Global - OKEx - HBTC - Dsdaq

If you're new to buying Bitcoin, we have prepared a detailed guide for newcomers to get you up to speed.

Tokenomics and Distribution Model

The Tellor crypto token, TRB, is an ERC-20 token primarily used within its decentralized oracle network. TRB incentivizes data reporters and validators, playing a key role in maintaining the network's integrity and reliability. The tokenomics of TRB are structured with a fixed supply, ensuring scarcity and subjecting its value to market dynamics and demand within the ecosystem.

The total supply of TRB is 2,587,353 tokens, distributed across various networks, including Ethereum, Gnosis Chain, Polygon, Optimism, and Arbitrum. The token distribution includes: - On-chain name: Tellor Tributes - Symbol/ticker: TRB or $TRB - Token type: ERC-20 - Networks: Ethereum, Gnosis Chain, Polygon, Optimism, Arbitrum - Smart contract addresses: - Ethereum: 0x88df592f8eb5d7bd38bfef7deb0fbc02cf3778a0 - Gnosis Chain: 0xaad66432d27737ecf6ed183160adc5ef36ab99f2 - Polygon: 0xe3322702bedaaed36cddab233360b939775ae5f1 - Optimism: 0xaad66432d27737ecf6ed183160adc5ef36ab99f2 - Arbitrum: 0xd58d345fd9c82262e087d2d0607

To control inflation, Tellor utilizes a staking mechanism where users stake TRB tokens to report data, aligning incentives for accurate reporting. Dispute resolution is also in place, where stakes are forfeited in case of inaccurate reporting. This mechanism encourages accurate data reporting and validates the data brought onto the blockchain, reducing reliance on specific APIs or sources and enhancing the system's resistance to censorship and manipulation.

The Purpose and Utility of the Tellor Crypto Token

The Tellor crypto token, also known as TRB, is used to incentivize participants on the Tellor network. The primary function of the token is to facilitate the retrieval of off-chain data and bring it to the blockchain. Tellor is a transparent and permissionless oracle protocol that allows smart contracts to easily access any data they need. The network incentivizes an open, permissionless network of data reporting and data validation, ensuring that data can be provided by anyone and checked by everyone.

The utility token used on the Tellor system is Tribute (TRB), an ERC-20 token built on Ethereum. It is