People think it will reach $80+ in this year .. or is it? đ€
Cryptocurrencies have steadily become a global phenomenon that continues to gain traction across the world. Tellor (TRB) is one of the leading digital assets in this rapidly expanding market and has already gained huge attention in the crypto market since its launch.
Are you looking to get an idea of where the cryptocurrency Tellor (TRB) might be headed in terms of its price over the next 10 to 15 years? With cryptocurrency markets growing increasingly volatile, predicting TRBâs future price is no easy task.
However, there are certain indicators we can look at as well as factors affecting value that may give us some insights into how much the TRB Coin could possibly be worth in the upcoming years. In fact, some crypto analysts are predicting that the TRB Coin will reach record highs in the next 5 to 10 years.
What Is Tellor (TRB)?
Tellor (TRB) is a decentralized oracle protocol that leverages the power of blockchain technology to provide accurate off-chain data to on-chain smart contracts. As a crucial component of any blockchain infrastructure, oracles are responsible for updating data that cannot be directly stored on the blockchain, thus enabling the creation of advanced DeFi applications and other blockchain-based services. Tellorâs unique approach to oracle services, however, sets it apart from traditional oracle providers.
At its core, Tellorâs oracle incentivizes data reporters to provide valid data to the network by offering TRB tokens as rewards. Reporters can submit data in bytes, which makes this protocol highly flexible and powerful enough to accommodate an extensive range of blockchain applications. Unlike other oracle providers, there is no need for a verification process or permission for anyone to become a data reporter, rendering Tellorâs oracle a permissionless and decentralized solution.
Teller (TRB) is an oracle network that connects smart contracts on Eathrium to external data. This means the Tellor network is used for answering any question of any format on-chain. The network is secure, transparent, and designed for decentralized applications (DApps) based on Ethereum. The network aims to become a reliable and stable off-chain data provider being trustless and decentralized.
Generally, crypto users have to search through many exchanges to find live market data and relevant information. Further, the smart contracts developed by exchanges donât have access to trustless off-chain data. To address this, the Tellor network was developed that allows smart contracts to connect with on-chain data. Tellor has created an ecosystem where users can access fact-checked information. In simple terms, the project is made to solve the problems of oracles.
Running on Ethereum, the Tellor network is composed of interconnected âreportersâ who work on providing the on-chain data. As per the whitepaper , these reporters are the bonded set of miners that provide answers to questions on-chain for others to use without any cost. Working on the POW mechanism, the reporters compete to record that data on-chain whenever the data is requested. The reporters, in turn, are incentivized for honest reporting. This is how the network is secured and made trustless and decentralized.
Coming to the token, TRB is the native token of the Tellor network and serves as the platformâs cryptocurrency. According to the website, TRB is an ERC-20 -based utility token primarily used to incentivize the reporters. The token is rewarded to data reporters to submit timely and accurate data. Moreover, the token is also used as a governance token of the platform. The TRB holders can vote on data disputes, upgrades to the network, monetary policies, mining rewards, etc
As everyone's activity, I think TRB will reach $75+ this year..
I am not a financial advisor, but before buying any crypto, do your own research.
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