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Exchange Tellor (TRB)

If you're looking to swap Tellor, SwapSpace is your one-stop-shop. We have some light reading for you - in case you'd want a refresher on what is Tellor or some fresh information about TRB’s price movements. And, of course, we provide you with the multiple Tellor exchange options so that you can choose the offer with the best rates and lowest Tellor fees, as well as other parameters that suit you.

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Tellor Price Stats

To help you make a decision about exchanging your Tellor, we gathered some cold hard numbers: Tellor price chart and other stats, such as Tellor market cap.

24H HIGH

24H HIGH $13.74

TRB MARKET CAP

TRB MARKET CAP $33,278,183.381

CIRCULATING SUPPLY

CIRCULATING SUPPLY 2,441,539.5 TRB

24H LOW

24H LOW $13.35

TRB PRICE

TRB PRICE $13.63

24H VOLUME

24H VOLUME $190,466.119

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Tellor Price Chart

Here you can see the current price of Tellor, as well as Tellor price history.

What is Tellor?

Tellor is a transparent permissionless oracle protocol for smart contract transactions for everyone. Oracles are the necessary part of the blockchain system that updates valuable off-chain data, making them available for the on-chain smart contacts. On Tellor Oracle protocol users compete for incentives on TRB and then bring the valuable data on-chain for the decentralized apps. Tellor in particular connects the data to smart contracts on the Ethereum network. 

The goal of the project was simply to solve the problems with oracles by creating an ecosystem where users can access fact-checked information. 

Tellor was launched by a US-based team in 2019 led by its co-founders Brenda Loya, Nick Fett, and Michael Zemrose. 

The Tellor Oracle Protocol states to be completely secure and transparent as well as truly decentralized. It was created for improving flexibility, and its simple architecture allows its easy application to any EMV chain. It secures data through staking and incentives mechanisms. Tellor also disincentivizes bad reports through disputes and slashing. 

Anyone from any place in the world can become a reporter by using open-source software. This possibility makes Tellor different from other oracles. The users need to deposit 100 TRB that will be locked until the user requests to withdraw them. The reporters can be considered bonded sets of miners that answer the questions on-chain for others that can be used for free. Tellor utilizes a Proof-of-Work consensus mechanism and reporters are incentivized for honest reporting.

10% of all the revenue generated by the miners goes to the Tellor team’s wallet, though the project didn’t have any ICO to raise the money for the project and invested their own fund to set it up. 

When the oracle users request the value of an off-chain data point, data reporters compete to add the value to the on-chain data bank, which can be accessed by any smart contract on the blockchain. The frequency of data updates depends on the tips of the users in TRB. They can also decide which query they want to update and also decide if the reward for fetching data is worth the cost of placing the value off-chain. 

The data is submitted in bytes meaning that the oracle is flexible and robust for almost any blockchain. 

The Tellor Oracle gives feeds like BTC/USD or ETH/USD and also allows to bridge the assets, for example, bringing BTC to Ethereum. It can also be used for data availability sequencer validation.  

Many people find that Tellor is very similar to Chainlink, and in many ways, it's true as both projects aim at the same issue. Though there is a significant moment in the Tellor vs Chainlink topic. Chainlink is mainly focused on DeFi and Tellor is focused more on decentralization.

Tribute (TRB) is the native token of the network and serves as its cryptocurrency. It is an ERC-20 utility token mainly used to incentivize reporters for submitting up-to-date and accurate data. It is also used as a governance token for the project. The holders of TRB can vote on data disputes, upgrades to the network, and monetary policies. 

As of August 2022, the TRB token has a total supply of 2388408 tokens with a little more than 1.7 million coins in the current circulation. There is no limit on the issue of the TRB tokens, the cryptocurrency is deflationary by its nature because half of each tip is burnt to an unrecoverable wallet and put out of the total supply, making the number change all the time. 

If you want to buy, sell or exchange Tellor, it is available on most of the major exchanges, including Huobi, Binance, OKEx, Dsdaq, etc. 

A Simple Way To Exchange Tellor Here At SwapSpace

Step 1
Step 1

Choose a pair

Choose the cryptocurrencies you would like to exchange among more than 1600 coins and tokens. Pick them from drop-down menus. Type the number of coins you want to swap.

Step 2
Step 2

Select the best rate

You choose the rate – we do the magic! Pick up the exchange service by the rate which meets your requirements. Make sure you are okay with the selected service network fee and privacy policy: some of them require you to pass the AML/KYC procedure.

Step 3
Step 3

Transfer funds

Send the exact amount to the address provided and receive the crypto in your wallet within minutes. Don’t have a wallet yet? Our support will recommend a good one!

Step 4
Step 4

Receive your coins

You’ll get your coins in a few minutes! The exact time is a subject of various parameters such as blockchain network workload, transaction volume, our partners’ processing speed, etc. Concerned about your transaction? Check the swap tracker or feel free to contact the support: support@swapspace.co.

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