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Tellor

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The decentralized oracle for DeFi

Tellor is a decentralized oracle built for the Ethereum network that provides trustless access to high-value off-chain data. Tellor guarantees the security and ease of use by utilizing a network of staked miners competing to retrieve off-pricing data. They essentially solve the problem of Ethereum smart contracts where they can not access off-chain data.

That means if developers or projects need their smart contract to access off-chain data, they’ll have to manually input it or incentivize users to do it or rely on another party like Oraclize.it. While relying on another party is a quick solution, it can cause issues in the long run. So instead of relying on one, using a decentralized network like Tellor can be considered a good alternative. Tellor is based in Maryland, United States.

Categories

Cryptocurrencies, DeFi

Location

Maryland, United States

Year founded

2019