Today BlockchainBrad speaks with Tellor CTO once more to deeply explore about the decentralised Oracle for DeFi. So why another interview? Well, Tellor is all about providing a decentralized oracle for the DeFi marketplace. For anyone who subscribes to the value of censorship resistance, decentralisation is the goal of many startups now aligned with the vision of thought leaders such as Vitalik & Satoshi. There is a total lack of authentic DeFi oracles in #crypto atm, and oracles themselves are imperative. Bringing high value off-chain data onto Ethereum & other platforms is a necessity and Tellor’s team now have the code and oracle built of real, pragmatic applications and they are partnering with several startups who share the same vision. They are also backed by some of the powerhouses of crypto, such as Maker, Consensys, Ethereum Foundation and BinanceLabs. Tellor’s system gets rid of those centralized points of failure by using a network of miners to query data for your smart contracts with active dispute systems built for fairness. The Tellor system uses a network of staked miners that compete to solve a PoW challenge, which leads to selected submissions of official value for requested data and it is what assets the strong security and trustlessness of the network. Tokens are mined with every successful Tellor data point and the company takes a 10% dev share to support the development of the ecosystem. The DevShare is the only means of sustained revenue for the Tellor team, which is super cool. They did no ICO, no pre-mine and no IEO or other crowdfunding, so risks of early investor dumping and exchanges doing dodgy deals is eliminated from the equation. For me, there’s so much to like about the team & tech.
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Links: https://tellor.io/
check out tellor.fund to
Twitter: @WeAreTellor
Tellor youtube: https://www.youtube.com/channel/UCJteW6bsm1wn34i2hSAZBiw
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Timestamps:
will add this in really soon
If someone wanted to transcribe this as an article, maybe ask Nick and see if he’ll put up a bounty.
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What is an oracle?
An oracle provides real-world off-chain data and submits this information to a blockchain to be used by smart contracts. Typically this is a data feed provided by a third party service.

What is “The Oracle Problem?”
Since smart contracts on Ethereum are fully self-contained and any information or access to off-chain data is restricted, certain types of smart contracts are reliant on an outside provider (an oracle) of off-chain data points. The problem is that you now have a decentralized smart contract with a centralized key point of failure. The issue with this is obvious to anyone who values decentralization.

How does Tellor solve this problem?
Tellor set out to solve the oracle problem in a specific context: a lack of secure and decentralized price feeds & other data types for DeFi applications. Tellor aims to enable the growth of the DeFi industry by providing a secure source of for high quality pricing data. The Tellor Oracle is an on-chain data bank where miners compete to add the data points. To create a properly incentivized system Tellor mints a native token, “Tributes.” Parties pay Tellor Tributes to submit a request for data to the Oracle. Based upon the reward assigned to each request, the Oracle selects the best funded query every ten minutes to create a challenge for miners to solve. Proof-of-work has proven to be the gold standard for crypto economic consensus mechanisms and Tellor utilizes it within a hybrid model to secure the oracle.
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PAYMENT/DONATION DISCLOSURE:
This was 100% free and I received no financial compensation for doing this video; not in fiat, tokens or any form on payment.
INVESTMENT DISCLOSURE:
I have now yet invested in Tellor (not much, but I invested a few little in Feb) and I plan to invest more as I can afford to. (Not Financial Advice)
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GENERAL DISCLAIMER:
The information provided is not to be considered as a recommendation to buy or invest in certain assets or currencies and is provided solely as an educational and information resource to help traders make their own decisions. Past performance is no guarantee of future success. It is important to note that no system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. BlockchainBrad shall not be liable to the participant for any damages, claims, expenses or losses of any kind (whether direct or indirect) suffered by the participant arising from or in connection with the information obtained this website or directly from the website owner.

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6 COMMENTS

  4. Hi Mate… Excellent interview…I saw you support real-world partnership and implementation…ICC several times informed that they are going to implement $perl perlin.. Can you please do an interview with perlin regarding their mainnet launch and progress update? much appreciated ..thank you..

  5. Hey guys, I wanted to firstly say thank you very much for still following me. I have been away for while, and I wanted to start in 2020 with Tellor, the decentralised Oracle for DeFi. This was an update and I really wanted to dive deep, so here's my Tellor update/discussion with Nick Fett, the CTO. I sincerely hope this helps you learn about decentralised oracles, why they matter and how Tellor specifically is making a splash in the DeFi space right now. Hope you have an awesome day, Brad. Oh, sorry about the screen, I forgot to clean the lens on my computer. Don't forget to like and sub if this helps. Censorship Resistance: a goal worth building for.

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