Deep Dive
1. Purpose
Tellor addresses a limitation of blockchains: smart contracts generally cannot fetch information from outside their own network. Its oracle service makes external data available for blockchain applications, including decentralized finance. CoinMarketCap
2. How it works
Data reporters submit requested information to the network. Reports can be challenged, providing a way to contest data that may be wrong; this helps applications assess whether to rely on it.
3. TRB’s role
TRB is Tellor’s native token. Reporters stake it as collateral and can earn rewards for contributing data; users can tip to encourage submissions. TRB is also used in disputes and protocol governance. Tellor
Conclusion
Tellor is an oracle network for delivering externally sourced data to blockchain applications, while TRB helps incentivize and govern participation. How well can its reporting and dispute process serve applications that need dependable data?
