Introduction
Overview
Last updated
Overview
Last updated
Tellor Layer is a new L1 built using the cosmos sdk for the purpose of coming to consensus on any subjective data. It works by using a network of staked parties who are crypto-economically incentivized to honestly report requested data.
The current testnet is code named "Palmito". The native currency on Palmito is bridged Sepolia TRB: . If you would like to test a validator and / or reporter and you don't yet have any sepolia TRB, and make a request! (Please make all requests in the #testing-layer channel, and don't forget to include your sepolia address.) We look forward to hearing from you! Once your TRB is, you can try running a validator, creating a reporter, tipping a reporter, and securing the authentically decentralized Tellor oracle.
Validators in the Tellor Layer network play a crucial role in maintaining the blockchain's integrity and consensus. They are responsible for validating transactions, securing the network, and ensuring the proper functioning of the blockchain. The number of total validators is capped at 100.
Transaction Validation: Validators validate transactions and add them to the chain.
Consensus Participation: They participate in the consensus mechanism to agree on the state of the chain.
Block Proposal: Validators propose new blocks and ensure that all committed transactions are included.
Signing: Validators sign aggregated data values, ensuring their correctness before they are relayed to other chains.
Reporters are individuals who read data from the internet (and/or any"real world" sources) for submission to the Tellor oracle. The data they report is aggregated and verified via on-chain c onsensus. Reporters earn TRB rewards for their efforts.
Submitting values for data requests (queries) that are subject to validation and disputes. *Validators can be reporters but not all reporters will be validators.
Monitoring submissions for accuracy. A robust system of staking and slashing ensures that reporters (and users) are crypto-economically incentivized to monitor their data.