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Tellor is a decentralized Oracle designed to bring high-value off-chain data to Ethereum. It’s noted that the founding purpose of Tellor was due to Daxia, a derivative protocol on Ethereum, needing an oracle. The reliance on the oracle to provide price data points to overcome contracts in Daxia is highlighted.
Additionally, Tellor, launched on the Ethereum network on August 1, 2019, aims to address the Oracle issue on Ethereum.
As the popularity of Tellor as both a platform and a cryptocurrency began to rise, topics such as “TRB coin Binance, buy TRB coin, where to buy TRB coin” have started to garner more interest.
What is TRB Coin?
TRB Coin (Tributes) is the token powering the Tellor Oracle network. TRB coin incentivizes miners to provide data, keeps oracles secure, and allows dApp applications to request on-chain data.
Tributes coin has many uses on the platform. Firstly, users can use TRB to request specific data they need, and a miner receives TRB as a reward when they send the data on-chain. Secondly, all miners need to deposit TRB into the Tellor smart contract to compete and start mining. This deposit allows for disputes over the value of data if a miner tries to submit incorrect data, leading to the suspension of their operations if found malicious. Lastly, as expected, TRB can also be used for voting within the system.
Additionally, according to the platform’s statements, the Blockchain network is mostly non-cooperative with other applications. Tellor aims to solve this by enabling reliable financial contracts on the Blockchain, citing the need for trusted third parties to input off-chain data like BTC/USD prices, interest rates, or even sports scores into Ethereum. Tellor circumvents these centralized parties by using a competitive miner network to source smart contract data.
Tellor Coin
It is also useful to discuss the current prices for those interested in topics like “buy TRB coin, where to buy TRB coin.” At the time of preparing this article, TRB coin is trading at $35.87, and according to CoinMarketCap, it is trading at 0.00336394 BTC against Bitcoin. In addition, it is stated that TRB token, with a market volume of $52,790,130 USD, ranks 150th in market value, and its average 24-hour trading volume is $65,508,250 USD.
Furthermore, it is beneficial to mention that the TRB token saw its lowest level at $1.11 on November 19, 2019, and its highest level at $89.66 on August 29, 2020.
Review of TRB Coin
Especially after the DeFi boom, TRB coin, becoming one of the favored DeFi tokens, has been sufficient to attract investors’ attention. TRB coin, gaining more popularity with its increasing price following significant exchange listings, seems to continue advancing with the backing of its platform.
In addition, having major names such as ConsenSys, Binance, and MakerDAO among the project’s investors is considered a plus for the project’s credibility.
How to Buy TRB Coin?
TRB coin, one of the popular cryptocurrencies of recent times, can be purchased via Binance, the world’s largest cryptocurrency exchange by trading volume. Binance.
