TELLOR ($TRB)

Tellor is a decentralized oracle protocol designed to bring valuable off-chain data to on-chain smart contracts in a secure and permissionless manner. Oracles like Tellor are crucial in blockchain ecosystems, as they provide external data required for decentralized applications (dApps) to function effectively. Tellor’s oracle allows users to request specific data, which is then supplied and validated by data reporters. These reporters compete for rewards in the form of Tellor’s native token, TRB, incentivizing accurate and timely data submissions. By enabling decentralized data reporting, Tellor ensures that on-chain applications, particularly in the DeFi space, have access to reliable information like price feeds, weather reports, and other critical metrics. With its open network, Tellor democratizes data access and fosters trustless interactions, making it a key component in the evolution of decentralized finance and other blockchain-based applications.