The full English name of TRB coin is Tellor. In fact, TRB coin is a currency of the oracle sector invested by Binance. Tellor is a decentralized oracle network based on the PoW consensus mechanism. The original intention of its creation was to build a decentralized oracle solution. , to allow all participants to provide the most authentic data and receive rewards.
Many investors don’t know much about what kind of currency TRB is. After all, TRB is not a mainstream currency, so its popularity is not high. It’s normal that everyone doesn’t know. Now let the editor bring you TRB currency. Future value and prospect analysis.
What currency is TRB?
Tellor is a decentralized oracle network platform used to integrate high-value off-chain data into Ethereum. The system uses contentious network competition to solve the PoW problem, monitoring user data requests on the chain, and monitoring and receiving data requests off the chain. Each successful Tellor data point will be mined using tokens, with the company taking a 10% development share to support the growth of the ecosystem.
For smart contracts on the chain, if you want to obtain secure oracle data, you need to submit a data request to the oracle. Based on the rewards assigned to each request, the oracle selects the request with the most funds every ten minutes. Each request collects specific data (such as the price of ETH/USD) and makes it available on-chain.
Analysis of the future value and prospects of TRB currency
Tellor has adopted a decentralized approach from the beginning to build its oracle, which combines the advantages of PoW and PoS staking. This hybrid mechanism gives it a certain security guarantee and a flexible incentive mechanism. Because the security of Tellor’s decentralized oracle is related to the value of its token TRB. So in the early days, it was difficult to provide separate oracle services for DeFi projects involving hundreds of millions of dollars in value, because this would lead to the possibility of attacks.
To prevent price attacks, Tellor’s own value must first be increased. For example, if it grows into a project worth hundreds of millions or even billions of dollars, the cost of attacks will be greatly increased. To improve Tellor's own value, there are two paths to take. One is that Tellor can develop together with the same early encryption projects, committed to building a decentralized mechanism, and gradually realizing a positive cycle of value growth; the other method is to provide services for encryption projects together with other oracles, through cross-oracle machines Greater decentralization of the network to enable more secure decentralized oracle services.
Tellor achieves the security of on-chain quotes through three processes: "Pledge Participation + POW Competitive Quotation + Dispute Voting", of which three links require the participation of token TRB. The higher the TRB value, the higher the attack cost, the higher the protocol security, and the more accurate the data. The project mainly focuses on serving the defi protocol, but the disadvantage is that retrieving data requires 10 minutes of competitive bidding to complete, and the data cannot be provided in real time. The team has destroyed the administrator's private key to implement community voting governance. According to the latest interview, the original development team's wallet holds approximately 90,000 TRB tokens, accounting for 5.7% of the current total circulation.
The security of the Tellor network depends on the value of the token TRB. Currently, in the Tellor V2.5 community governance plan, half of the defi protocol call fee will be used to destroy the TRB token, and the token has value support. At the same time, the pledge amount is reduced to 500TRB, which will encourage participation in the construction of the protocol to a certain extent, achieve more decentralization, and provide more secure data. Future development will be sustainable.
The editor hereby reminds investors that the biggest obstacle to the applicability of smart contracts in the market currently is the lack of trustworthy sources of off-chain data. The Tellor project has captured this point and tried to fill it through on-chain data. White space under the chain. At present, the development of the project is still good, and the recent market performance is also good. Investors who are optimistic about this currency can buy at a suitable point.