About Tributes
How Tellor Oracle Works
The Tellor oracle is an on-chain data bank where miners solve a PoW challenge in order to submit the data points. To create a properly incentivized system, Tellor mints a native token, “Tributes.” Parties pay Tributes to submit a request for data to the Tellor oracle. A system of staked miners compete to solve a PoW challenge and then collect the specific data (e.g. ETH/USD or BTC/USD prices) to make it available on-chain.
Tellor's Vision and Purpose
Tellor’s vision is to enable the full potential of smart contracts, specifically for decentralized finance, by providing a secure solution to the oracle problem. Decentralized price feeds are an existing and large need in the space.
Team and Product Readiness
With an expert team of economists and developers, Tellor is ready with a live product and active set of miners providing a robust and secure oracle on Ethereum.
