Tellor

Tellor: Decentralized Oracle Network

Tellor is a decentralized oracle network, built on the Ethereum blockchain. It is designed to provide an open and secure platform for smart contracts to access off-chain data. The network is composed of miners, who are responsible for providing the data, and users, who can request data and pay miners for their services.

Tellor is unique in that it provides a trustless, secure, and reliable source of off-chain data. The protocol is designed to be both secure and resistant to censorship. This is accomplished through the use of economic incentives, where miners are rewarded for providing accurate data and penalized for providing inaccurate data.

The Tellor protocol is composed of two main components: a data storage layer and an application layer. The data storage layer is a decentralized database, which stores the data that is requested by smart contracts. The application layer is responsible for handling requests and managing the miners.

The Tellor network is powered by two types of tokens: the Tellor token (TRB) and the Tellor staking token (TST). The TRB token is used to pay miners for their work, and it can also be used to vote on protocol upgrades and changes. The TST token is used to stake tokens, which rewards miners for providing accurate data and helps secure the network.

The Tellor protocol is designed to be resistant to censorship and manipulation, and it provides a secure and reliable source of off-chain data. This makes it an ideal solution for smart contracts that need to access external data. In addition, the protocol is designed to be user-friendly, making it easy for users to request data and pay miners for their services.