Tellor Tributes Trb Price USD

Tellor is a decentralised oracle protocol.

Oracles are a key part of the infrastructure of a blockchain. They update valuable data that is stored off-chain so that it can be used by smart contracts on-chain.

Tellor's oracle gives out data that can be asked for, checked, and put on the chain without permission, with data reporters competing for TRB incentives. Data reporters add useful information to the blockchain that can be used in a wide range of DeFi applications.

Tellor's oracle works by giving data reporters an incentive to put good data on-chain and a reason not to put bad data on-chain through disputes and slashing. Becoming a reporter requires no verification process i.e. permissionless. With open source software, anyone in any part of the world can be a reporter. This is something that no other blockchain oracle has.

When oracle users ask for the value of an off-chain data point (like BTC/USD), data reporters compete to add this value to an on-chain data bank that all smart contracts on the networks Tellor supports can access (Ethereum, Polygon, Algorand, etc.) The only thing that limits how often data can be changed is how much or how often users "tip" the feed with TRB.

Also, data is sent to the oracle in bytes, which is unique to Tellor. This makes the oracle flexible and strong enough for almost any blockchain application.

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