$TRB
TRB (Tellor) is a decentralized oracle network on the Ethereum blockchain. Here are some facts about TRB:
1. Oracle Network: TRB is designed to provide decentralized data for smart contracts on Ethereum. It serves as a bridge between off-chain data and on-chain smart contracts, allowing smart contracts to interact with real-world data such as prices, weather information, or sports scores.
2. Data Validation: Tellor uses a network of miners to validate and deliver data to smart contracts. Miners compete to provide accurate data by staking TRB tokens as collateral. They are incentivized to provide accurate data through rewards and penalties.
3. Proof of Work: Tellor utilizes a Proof of Work (PoW) consensus mechanism. Miners solve computational puzzles to submit data to the Tellor smart contract. This ensures that data submissions are costly, thereby discouraging malicious actors from providing false information.
4. Security: TRB aims to provide a secure and decentralized oracle solution. By using a PoW consensus mechanism and requiring miners to stake TRB tokens, the network enhances security and discourages attacks or manipulation of data.
5. Token Economics: TRB is the native cryptocurrency of the Tellor network. It is used for various purposes within the ecosystem, including staking by miners, paying for data requests, and participating in governance decisions. The total supply of TRB is capped at 1 million tokens.
6. Use Cases: TRB's decentralized oracle network has various use cases across decentralized finance (DeFi), gaming, insurance, and supply chain management. Smart contracts in DeFi platforms, for example, often rely on accurate price feeds provided by oracles like Tellor.
7. Community and Development: Tellor has an active community of developers, users, and supporters. The project continues to develop and improve its technology to meet the growing demand for decentralized oracle solutions in the Ethereum ecosystem.
