What is Tellor (TRB)? Source of Decentralized Data
2025-05-28
What is Tellor (TRB)? This protocol is designed as a decentralized oracle network. Tellor offers a reliable solution to feed external data into blockchain ecosystems in a secure and permissionless manner.
The name Tellor has become increasingly recognized in the crypto space for its unique and democratic approach to oracles. While many oracle providers rely on centralized entities or closed validator networks, Tellor allows anyone to participate as a data provider—creating an open, robust infrastructure for decentralized applications (dApps) across various blockchains.
What is Tellor (TRB)?
Tellor is an open-source, decentralized oracle protocol designed to make off-chain data available to smart contracts.
Smart contracts, which are automated digital agreements running on blockchains, require external information like asset prices, sports scores, or real-time events.
Since blockchains themselves cannot access off-chain data, oracles like Tellor serve as essential bridges.
The Tellor oracle operates on a permissionless model. Anyone can become a data reporter by using the Tellor system to provide information in exchange for incentives paid in TRB, the native token of the protocol.
This system helps maintain fairness and decentralization by allowing global participation without the need for centralized control.
Read also: What is SOXL? A Guide to Specialized Financial Assets
How Tellor (TRB) Works
The Tellor network works by processing data requests from users and rewarding participants who help fulfill those requests.
Data Requests: A user who needs data, such as the current price of Bitcoin in USD, submits a request along with a small tip in TRB tokens. This tip encourages reporters to respond quickly.
Reporters Submit Data: Individuals who have staked TRB can act as data reporters. They retrieve the requested information and submit it to the blockchain. The data submitted is aggregated—typically using a median or average value—to ensure accuracy.
Validators Secure the Network: Validators ensure the accuracy and integrity of the data submitted. They also help maintain the Tellor Layer, the protocol’s operational framework.
Cross-Chain Integration: Through its light client bridge, Tellor can relay data across multiple blockchains including Ethereum, Polygon, and Algorand. This makes it suitable for a wide range of decentralized applications.
Dispute Mechanism: If someone suspects that false data has been submitted, they can initiate a dispute. The Tellor community then votes using their TRB tokens to verify the data’s accuracy. Reporters proven dishonest may have their staked tokens slashed, adding a layer of security.
Tellor (TRB) History and Founders
Tellor was officially launched in 2019 by a team of experienced professionals based in the United States. The project was built to address the limitations and vulnerabilities of existing oracle solutions on Ethereum.
Brenda Loya, the CEO and co-founder, previously worked as an economist and statistician at the U.S. Department of Labor before transitioning into blockchain development.
Nick Fett, the Chief Technology Officer, was also the founder of Daxia, a derivatives protocol on Ethereum. He brings extensive knowledge in economics, machine learning, and regulatory frameworks.
Michael Zemrose, the Chief Strategy Officer, has a background in business development and media consulting. He plays a key role in guiding the strategic direction of the Tellor protocol.
Together, this team combined technical expertise with practical experience to create a protocol that is both secure and accessible.
Read also: Is Crypto Insurance the Next Trend in Crypto?
What is TRB?
TRB is the native token that powers the Tellor ecosystem. It plays multiple roles in maintaining the functionality, security, and decentralization of the protocol.
TRB tokens are used for:
Staking: Reporters and validators must stake TRB tokens as collateral. This discourages dishonest behavior and helps secure the network.
Tipping: Users add TRB tips to data requests, incentivizing faster and more accurate submissions from reporters.
Rewards: New TRB tokens are minted and distributed over time. Reporters receive 75% of the rewards, while validators receive the remaining 25%.
Governance: TRB holders can participate in protocol governance. They vote on upgrades, policies, and dispute resolutions.
Disputes: During disputes over submitted data, TRB tokens are used in the voting process. Reporters who submit incorrect data risk losing their staked tokens.
TRB Utility
The TRB token creates a well-balanced relationship between all participants in the Tellor network—users, reporters, validators, and community members. It ensures that the protocol operates fairly and remains decentralized.
For Reporters: TRB acts as a reward and a requirement. Reporters earn TRB by submitting data and must stake it to be eligible.
For Validators: TRB is also staked to help validate the data. Validators play a key role in ensuring the protocol’s integrity.
For Users: TRB tips can be used to prioritize urgent or valuable data requests.
For Token Holders: Those who delegate their TRB tokens to active participants in the network can earn a share of the rewards.
This structure aligns incentives and makes the protocol both flexible and secure.
Read also: Is Pig Coin Worth It? Looking at Its Use Cases
Conclusion
Tellor (TRB) has emerged as a reliable and decentralized solution to the oracle problem in blockchain technology.
By enabling anyone to become a data reporter and rewarding them for valid submissions, Tellor ensures a transparent and open system for providing off-chain data to smart contracts. Its use of the TRB token further enhances security, governance, and participation.
With support for multiple blockchain networks and a strong dispute mechanism in place, Tellor offers a promising foundation for the growing world of decentralized finance and other blockchain-based applications.
Find other interesting articles on Bitrue blog! You can also directly buy selected assets on Bitrue by registering here!
Frequently Asked Questions (FAQ)
Q: What is Tellor TRB?
A: Tellor (TRB) is a decentralized oracle network that runs on the blockchain and connects smart contracts on Ethereum to external real-world data.
Q: How much is 1 TRB?
A: According to the provided data, 1 TRB is worth approximately $37.36 USD.
Q: Who is the owner of Tellor coin?
A: Tellor was founded by Brenda Loya, Nick Fett, and Michael Zemrose. Brenda Loya is the CEO and co-founder.
Q: What is the max supply of Tellor TRB?
A: The maximum supply of TRB is 2.75 million coins.
Q: When was the TRB coin launched?
A: The TRB coin was launched on January 8, 2019.
Disclaimer: The content of this article does not constitute financial or investment advice.
