Tellor Tributes

What are Tellor Tributes?

Tellor Tributes (TRB) are the native cryptocurrency of the Tellor network. They are used to incentivize miners to contribute accurate and reliable data to the network. Miners must stake a certain amount of TRB in order to participate in the mining process, and they are rewarded with more TRB for contributing accurate data.

TRB can also be used to pay for access to data on the Tellor network. Smart contract developers who need off-chain data for their applications can pay TRB to miners in exchange for the data they provide.

How are Tellor Tributes used?

Tellor Tributes are used to incentivize miners to provide accurate and reliable data to the network. Miners must stake a certain amount of TRB in order to participate in the mining process, and they are rewarded with more TRB for contributing accurate data.

TRB can also be used to pay for access to data on the Tellor network. Smart contract developers who need off-chain data for their applications can pay TRB to miners in exchange for the data they provide.

Additionally, TRB is used for governance on the Tellor network. Holders of TRB can vote on proposals for changes to the network, such as upgrades to the protocol, changes to the incentive structure, and the allocation of network resources.

Overall, Tellor Tributes play a vital role in incentivizing miners to provide high-quality data to the Tellor network and ensuring the reliability and accuracy of off-chain data for smart contracts on the Ethereum blockchain.