Tellor

Tellor is a decentralized oracle protocol that addresses the oracle problem on the Ethereum blockchain. Oracles are a crucial part of blockchain infrastructure, as they provide valuable off-chain data to on-chain smart contracts. Tellor's oracle works by incentivizing data reporters to submit valid data on-chain, while also disincentivizing bad reports through a dispute and slashing mechanism. The Tellor protocol is unique in that it allows anyone, anywhere in the world, to become a data reporter using open-source software, without any verification process. When users request the value of an off-chain data point, such as the BTC/USD price, data reporters compete to add this value to an on-chain data bank, which is accessible by all smart contracts on the networks Tellor supports (Ethereum, Polygon, Algorand, etc.). The frequency at which data can be updated is limited only by the amount of TRB "tips" provided by the users. The purpose of the TRB token is to incentivize data reporters to submit valid data, while also allowing the community to dispute and slash the stake of reporters who submit incorrect data. This dispute mechanism helps to achieve community consensus on the data being reported, ensuring the security and reliability of the Tellor oracle.