Tellor is a decentralized oracle network based on PoW consensus. It hopes to deal with the oracle problems on the Ethereum blockchain. Up to now, TRB coins have been developed for more than two years and are relatively stable in the currency circle. However, some novice investors do not know much about TRB coins, so let's take a look.

What is TRB currency?

It is understood that TRB coin is a currency and one of the currencies invested by Coin Security. Tellor is a decentralized Oracle oracle network platform, which is used to integrate high-value offline data into Ethereum. This system uses controversial miners' network competition to deal with PoW problems, detects customer data requests on the chain, and monitors and obtains data requests off the chain. Each successful Tellor data point will be mined using currency, and the enterprise will take 10% of the R&D share to apply to the development of the ecosystem.

The power of Tellor mining node is to get token rewards for mining and data statistics fees from data demanders. Mining reward is Tellor's native token TRB.

The smart contract on the chain should submit data requests to the oracle in order to obtain secure oracle data. According to the reward given to each request, the oracle selects the request with the most assets every ten minutes. Each request collects specific data (such as the price of ETH/USD) and makes it available on the chain.

Tellor will set up mathematical puzzles and let miners solve them through calculation rate competition to become five elected nodes. The five selected nodes will receive the same reward. The time target of Tellor oracle is 10 minutes, and the daily average is only 144 views.

Tellor was founded by Brenda Loya and Michael Zemrose.

Brenda

Loya is the CEO and founder of Tellor. He used to be the vice president and top developer in the fields of blockchain, extensibility and information science in Daxia. She is also a supervisory statistician in the employment and training management unit of the United States Department of Labor.

Michael Zemrose is the founder of Tellor. He once served as the chief strategic officer in Daxia. He is also the head coach of small businesses of Real Elevation.

What is the future prospect of TRB currency?

Tellor has used the decentralized method to build its oracle since the beginning. It combines the advantages of PoW mining and PoS pledge. This kind of mixed system brings it a certain security guarantee and flexible incentive system. Because the security of Tellor's decentralized oracle is related to the TRB value of its currency. Therefore, in the early stage, it was difficult for it to provide independent oracle services for DeFi projects involving hundreds of millions of dollars, because this would lead to the probability of attack.

To avoid price attack, first of all, Teller's own value should be improved. For example, it has developed into a project worth hundreds of millions of dollars, or even billions of dollars, which greatly increases the attack cost. There are two ways to improve Tellor's own value. First, Tellor can develop with the same early encryption projects, and is committed to building a decentralized mechanism to slowly complete the positive cycle of value growth; Another method is to help encryption projects with other oracle machines, and realize more secure decentralized oracle services according to the dispersion of more aspects of the cross oracle network.

In the process of TRB's money pledge mining, attacking its data will result in a high risk of being attacked when the relevant defi agreement is profitable and the cost of pledge is low.

Teller completes the price security on the chain according to the three steps of "pledge participation+POW competitive price+dispute voting", in which three links require the participation of TRB. The greater the value of TRB, the greater the attack cost, the higher the protocol security, and the more accurate the data will be. The key point of the project is to provide services for the defi protocol, but the disadvantage is that the retrieval of data can only be completed at a competitive price of 10 minutes, and the data cannot be provided immediately. The team has destroyed the administrator's private key and completed the rectification of community voting. According to the new interview, the original development team's wallet has about 90000 TRB currency, accounting for 5.7% of the current total circulation.

Teller network security depends on the value of TRB currency. Currently, in Teller V2.5 community governance scheme, half of the defi protocol activation fee will be used to destroy TRB currency, which has value support. At the same time, reduce the number of miners pledged to 500TRB, to a certain extent, encourage a large number of miners to participate in the construction of the agreement, complete more decentralization, and provide data more safely, so we can pay close attention to the future development.

Speaking of this, I believe you have a certain understanding of what TRB currency is and its future prospects. In general, I also remind investors that the biggest obstacle to the applicability of smart contracts in the market is the lack of distrust of sources of offline data. Tellor's project is to seize this point and try to make up for the lack of offline data through online data. At present, the development of the project is good, and the recent market situation is also very good. Investors who are interested in the currency can also buy at a suitable point.