Crypto Almanac - Part 277 Beginners Guide

Source. Crypto info.com

What is Tellor?
Tellor was launched in 2019 by a U.S.-based team with the aim to address the oracle problem on the Ethereum (ETH) blockchain. Tellor is an Ethereum-based, decentralized, secure oracle for decentralized finance (DeFi) decentralized applications (DApps).

Tellor allows DeFi DApps to receive high-value data for smart contracts. The data feed's stability and reliability are ensured by staked miners who participate in proof-of-work (PoW) consensus.

The team behind Tellor also built Daxia, which is a derivatives protocol on Ethereum. Daxia created tokens that represented long or short sides of a trading pair, and an oracle was needed in order to execute these smart contracts. As a result, the team created Tellor, which is a decentralized, purpose-built oracle solution.