Deep Dive
1. Purpose: bringing outside data on-chain
Blockchains cannot directly access information from the internet or other external sources. Tellor acts as an oracle—a system that delivers such information to smart contracts, which can then use it in applications such as decentralized finance. CoinMarketCap
2. Reporting and verification
Tellor allows participants to report data without needing permission. Reports can be challenged, and reporters may lose staked tokens if their data is found dishonest. This system uses financial incentives and open disputes to help protect data integrity. Tellor
3. What TRB does
TRB is Tellor’s native token. Reporters and validators stake it as collateral, while users can tip to encourage data submissions. TRB also supports dispute resolution and protocol governance. Tellor’s token overview
Conclusion
Tellor is an oracle network for supplying externally sourced data to blockchains, with TRB helping secure and coordinate participation. How effectively can its open reporting and dispute process support the data needs of smart contracts?null
