In this episode, Bobby Ong, co-founder of CoinGecko is joined by Nick Fett, CTO at Tellor and Michael Zemrose, CSO of Tellor. Bobby interviewed Nick and Michael on the Tellor oracle, how it works, the utility behind Tellor Tributes, as well as Tellor’s upgrades in V2.
[00:01:20] Background on Tellor
[00:03:59] The main difference between Tellor and Chainlink
[00:05:19] How does Tellor work?
[00:12:44] Tellor’s upgrades in V2
[00:18:55] Who’s using the Tellor oracles?
[00:21:03] The main utility behind Tellor Tributes (TRB)
[00:25:40] Attack risk on Tellor
[00:33:42] Where to follow Tellor
Quotes from Episode:
“I don't think Chainlink is going to be able to achieve that type of quality going about things the way they are using white-listed data providers like they do. And so that's a huge difference. Like with Tellor, we focus on that Bitcoin style quality where decentralized is our number one priority and censorship-resistance is our number one priority. So you know, in a nutshell we feel that we're the decentralized option between the two.” [00:04:49]
“The problem is, is that, you know, at Coinbase for instance, they just started an oracle service where they sign the price every so often and you can grab it and say, 'Hey, this was the price at Coinbase.' The problem with that is Coinbase can at any point stop doing that. There's no guarantee that they will continue to do that.” [00:07:42]
“Now you have to stake a 1,000 TRB and you can only mine one value per hour. And the reason that we're moving to that is, any sort of minor centralization can sort of be, if you want to own 90% of our hash power, you're going to have to own a whole lot of our token as well.” [00:15:25]
Tellor - https://tellor.io/
CoinGecko - https://www.coingecko.com/
Tellor (TRB) on CoinGecko - https://www.coingecko.com/en/coins/tellor