Sirwin
Sirwin

Tellor (TRB) cryptocurrency

By Stat1c | NewCrypto news | 11 Apr 2020


 

Tellor

Tellor (TRB) is a 8 month old project with a low supply of tokens, just ( 1.171.227 TRB)  

INVESTORS 

MAKER


BINANCE LABS


CONSENSYS


Tellor is a blockchain project for working with decentralized object-relational databases (Oracle), aimed at using a decentralized finance (DeFi) system.

Using Tellor facilitates the practical implementation of open projects in which it is necessary to use the storage  use of data in smart contracts. Thanks to the use of the Tellor, the possibilities of using smart contracts based on the Ethereum network and other blockchains are expanding. This is possible thanks to the addition of Tellor Tribures, a decentralized off-chain component that simplifies data storage and handling.

How does Tellor (TRB) work?
Tellor performance is ensured by the availability of TRB tokens, which are designed to reward miners and steakers who support the network.

From a technical point of view, TRB are ERC-20 standard tokens based on the Ethereum blockchain

Exchanges where you can buy Tellor (TRB)

Rates

  • And also on Eidoo Exchange

1. To maintain performance, a network of miners-stakers is used, which compete among themselves to find solutions using the PoW Tellor algorithm to include information in a decentralized database (on-chain data bank)

2. Oracle system constantly monitors user requests paid in Tribures tokens for adding information to a decentralized database, selects the most expensive of them, and then sends tasks to miners to bind this information using Tellor algorithm to the database every 10 minutes.


3. If a miner successfully finds a solution and validates it with Oracle, Tribures tokens are generated, 90% of which goes to miners, and 10% to the treasury for developers to develop the ecosystem

4. The size of the generated reward is constantly reduced from 25.5 to 5.5 TRB to reduce inflation in accordance with the schedule

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Stat1c
Stat1c

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