What is Tellor X and how does it work in the cryptocurrency industry?

3 answers

• Mar 19, 2022 · 3 years ago
  Tellor X is a decentralized oracle network that provides accurate and reliable data to smart contracts on the blockchain. It works by incentivizing miners to provide data by staking tokens as collateral. These miners compete to solve a specific computational challenge, known as a proof of work, to validate and submit data to the network. This ensures that the data provided is accurate and tamper-proof, making it valuable for various applications in the cryptocurrency industry.
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• Mar 19, 2022 · 3 years ago
  Tellor X is like the middleman between smart contracts and real-world data. It ensures that the data used by smart contracts is trustworthy and reliable. Miners play a crucial role in this process by validating and submitting data to the network. In return, they are rewarded with Tellor X tokens. This incentivizes miners to provide accurate and timely data, creating a robust and secure oracle network.
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• Mar 19, 2022 · 3 years ago
  Tellor X is a decentralized oracle network that enables smart contracts to access real-world data. It uses a unique consensus mechanism called Proof of Work, where miners compete to solve complex mathematical puzzles to validate and submit data. This ensures the accuracy and integrity of the data used by smart contracts. Tellor X has gained popularity in the cryptocurrency industry due to its reliable and secure data feeds, making it a valuable tool for decentralized applications.
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