In the world of blockchain and smart contracts, there's always an important question that arises:
"Where does the smart contract get the data from?"
And here comes the role of projects that provide "oracles" or what is known as reliable data providers.
One of the prominent projects in this field is Tellor, and its coin is called TRB.
What is the Tellor project?
Tellor is a decentralized oracle system, designed to provide data from outside the blockchain (such as currency prices, weather, or any other information) to smart contracts in a secure and reliable way.
Without this oracle, smart contracts cannot interact with the outside world, which limits their power.
TRB Coin
The TRB coin is the project's token and has key roles:
Payment to miners: those who collect the data and provide it to the network.
Governance: TRB holders can participate in voting on project decisions.
Security guarantee: To send data to the network, you must deposit TRB as collateral, which prevents manipulation.
How does Tellor work?
1. Someone requests data (for example: the price of ETH in dollars).
2. A small reward is given in TRB.
3. Miners collect the data and send it.
4. The network verifies its accuracy.
5. The smart contract receives the data and starts its work.
Features of Tellor
Fully decentralized: No single entity controls the data.
High security: To participate, you must deposit TRB, making manipulation difficult and costly.
Support for DeFi projects: Any DeFi platform can use Tellor as an oracle.
TRB Price
The TRB coin trades in a wide range at times, due to limited supply and market reactions to project updates.
Currently, its price is higher than many altcoins, but it is a strong technical project serving a real need in blockchain.
> Warning for beginners: A high price doesn't always mean guaranteed profit, the market is volatile and you need to understand well before investing.
Does TRB deserve to be followed?
If you're interested in the field of decentralized data, or you're looking for a project that solves a real problem in blockchain,
Tellor is a project worth following closely. And know that the role of the oracle will grow significantly as smart contracts expand.
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