Prices are in USD.
|Market Cap Rank
|Price Change 24H
|Price Change Percentage 24H
|Market Cap Change 24H
|Market Cap Change Percentage 24H
|All Time High
December 31, 2023
|All Time Low
November 1, 2019 -
|https://etherscan.io/token/0x0ba45a8b5d5575935b8158a88c631e9f9c95a2e5 , https://disputes.tellorscan.com/ , https://ethplorer.io/address/0x0ba4 , 5a8b5d5575935b8158a88c631e9f9c95a2e5 , https://prices.tellorscan.com/
|https://twitter.com/WeAreTellor , https://discordapp.com/invite/n7drGjh , https://t.me/tellor
Tellor is an Ethereum based decentralized and secure oracle for DeFi dApps. Tellor tries to solve a big problem with DeFi apps. The closed-looped, self-contained nature of smart contracts. It is a big problem because it hinders the smooth operation of DeFi apps. This prevents the full utilization of DeFi apps. This is especially true for DeFi apps that require external data for activation.
With Tellor, DeFi apps can receive high-value data for smart contracts. Basically, it is an oracle solution for off-chain data. The venture has great potential in the market. The value proposition it presents sells itself. Many cryptocurrency enthusiasts see this technology as a necessity. It allows for DeFi apps to thrive in the market.
The infrastructure Tellor allows for decentralized applications to query off-chain data. In this process, users query data and updates the same in the next block by adding a TRB tip. To understand this whole process, we have to look at how Tellor works.
Users can request specific data queries. They can then update these queries in the next block by adding a TRB tip. These queries become proof of work. Tellor’s smart contract manages the requests and issues the highest tipped queries. Data providers then mine along with a PoW challenge.
Further, data providers turn PoW into data updates. The miners compete to mine the PoW challenge and submit the new data updates requested. This is a seamless process and happens very fast.
The Tellor contract determines the median from the first five data providers to solve PoW. This is the official value added on-chain in a readable data feed.
Token holders can dispute any data submitted on-chain. The company slashes the stake of a data provider in case of a successful dispute.
Yes, investors can mine Tellor coins. The role of miners is to provide accurate data to fulfil a request. To do this, miners solve a PoW challenge. The more the miners, the harder the PoW problem is. As such, miners need to provide more computational power to solve the problem.
This encourages competition between miners. Furthermore, Tellor rewards the fastest five miners with TRB tokens. In turn, the network sees an increase in overall mining power. High mining power is very crucial to a blockchain’s security.
Successful miners receive a reward in the form of TRB tokens. Miners also receive bounty from the data requester. Data requesters have to pay for the data using TRB coins.
The mining process is easy to start but difficult to master. This process also fosters the security of the Tellor blockchain. This results in a reliable blockchain benefiting all the participants.
Miners can choose to mine alone or join a mining pool. The mining process is GPU intensive. Additionally, it requires more mining power as more miners join a challenge. Hence, it makes no sense to mine alone. It is better to join a mining pool to increase your chances of landing a reward.
The Tellor team consists of experienced individuals committed to making Tellor reliable and secure. The CEO of Tellor is Brenda Boya. She is also a co-founder of the system. Alongside her, we have Nicholas Fett. He is the CTO of the company. He is actively designing and developing a system for off-chain data access and validation on Ethereum.
Another team member of Tellor is Michael Zemrose. He describes himself as an expert in developing, communicating, executing, and sustaining strategic initiatives.
This is a well-rounded team. It is safe to say that Tellor is in safe hands. Moreover, the entity has great partnerships with some notable institutions. Some of these include Binance Labs, ConsenSys and MakerDAO. Furthermore, they have a partnership with Radar Relay. Radar Relay is a P2P trading platform.
It is refreshing to see Tellor get backing from such fine institutions. It means that these companies give it a vote of confidence. Moreover, some of these companies are investing partners. This makes it easier for the public to trust Tellor.
Tellor is excelling in maintaining the security of their network. Staked miners help keep the data-bank secure. They do this by solving PoW problems. The company uses a crypto-economic incentive mechanism to keep miners committed.
The hash rate in Tellor goes up according to the number of miners attempting a PoW challenge. The more the miners, the higher the hash rate. This means that miners have to provide more mining power. Moreover, it makes it expensive to attack the network using overwhelming computational power.
Additionally, Tellor selects the median value from the five winners rather than the mean. This significantly increases the cost of 51% attacks. This is because the attacker needs to deploy miners that can outcompete the rest of the network. This results in one of the safest networks that exist.
Tellor offers a solution to connecting real-world information to smart contracts. This is a rare and very ambitious project. Even so, the coin has great potential. If things work out, Tellor will become a key blockchain in the cryptocurrency space. In turn, we will see the rise in the value of the Tellor tokens.
Moreover, the security features of this project are very impressive. The developers have in place an unbreakable system. As such, the value proposition for Tellor coins sells itself.
The marketing team only need to make Tellor known by the cryptocurrency community. That is the only way they will see more onboarding. They already have a vote of confidence from some of the best institutions in the space. They need to ride on this repudiation and make the coin a household name.
This project is undervalued. Yet, it serves a reasonably unexplored niche. The development team is doing a great job of keeping the project updated and secure. Their dedication speaks for itself.
The easiest way to acquire cryptocurrencies is by buying them. Luckily, many exchanges host the trading of Tellor tokens. Some of these include Binance, Poloniex, OKEx, Huobi Global and Biki.
This is a great coin to have on your portfolio. It ranks 168th in market cap share with a market cap of $45,327,574. While this may not be very impressive, it shows great potential. The price of a single Tellor token is $28.40. However, the company is showing steady growth in value. As it stands, there are a total of 1,583,157 coins in circulation. The total supply is 1,664,091.
In our opinion, this is an undervalued coin. It is operating a unique niche. There are not many coins serving its purpose. Therefore, Tellor has a great case for adoption. The value proposition is also impressive. Connecting smart contracts to real-world data greatly improves the versatility of DeFi apps.
Moreover, Tellor has backing from some of the best institutions in the market. This, together with its committed developers, make it easy to trust the entity.
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