we are tellor
A decentralized oracle network.
Tellor is a permissionless community of token holders, data providers, and validators. Together, we cryptographically secure putting real world data on-chain.
About tellor
The Tellor founding team, Nicholas Fett, Brenda Loya, and Michael Zemrose, began the journey of Tellor in early 2018. But, Tellor is much more than the team, and much more than just an oracle. It’s a permissionless community of data providers, validators, and token holders that crypto-economically secure the process of putting real world data on-chain. Only together do WE make Tellor what it is.
We didn’t choose oracles.
We got into this space because we were excited at the ability of this new technology to create change. You can now have a sound digital money, sovereignty over your data, applications that can’t be stopped or censored by some bureaucracy.
If you didn’t know, we were originally building Tellor as a tool for Daxia (our former decentralized derivatives protocol). When the implementation was near complete though, we knew we had something special and decided that we would be better off running with Tellor than Daxia. It was probably meant to be though. Given our team’s background in data reporting, the regulatory status of our country (we all live near Washington, DC), and even the state of the ecosystem, oracles were/are a more pressing need; we’re happy it fell in our laps. Even though we originally built Tellor for Daxia, oracles are a broad enough field and technology to really encapsulate most of the building blocks when it comes to data and smart contracts.
This means that there’s a whole lot more we can do with Tellor and, as stated in our ‘Future vision and beliefs’ article, we plan on building it all while holding true to our guiding principles:
Build things that make sense.
Build things that you can build.
Build the system that you want to be a part of.
It takes 3 lines of code to integrate with Tellor for reliable, trustless data in your smart contracts.
Here is how it works.
Data gets queried.
Users can request specific data queries to be updated in the next block by adding a TRB tip.
Queries become PoW.
Tellor’s smart contract manages the requests and issues the highest tipped queries for the data providers to mine along with a PoW challenge.
Data providers turn PoW into data updates.
The network of staked data providers compete to mine the PoW challenge and submit the new data updates that were requested.
Official data values as a readable on-chain price feed.
Out of the first 5 data providers to solve PoW and submit new data, the median value is determined by the Tellor contract as the official value and placed on-chain in a readable data feed.
Submissions can be disputed.
All data submissions are subject to being disputed by token holders. The data provider’s stake is slashed if he’s successfully disputed.
Tellor’s main contract arranges the query queue, provides the PoW to the miners and determines the medians: it is the heart of the network around which everything revolves.