Why TELLOR (TRB) Can Make 150x Gains | Chainlink Competitor? | Decentralized Oracle Service

good morning everybody we're up bright 
and early in the mike d household today   smash the like button if you 
didn't waste the whole day sleeping   we all know how important oracles are in 
this decentralized world that we're building   we all know that chainlink is the king of 
that sector with a 12 billion dollar market cap   but i personally believe that there are room for 
not just a few but many oracles even if they're   not just competitors but simply just as backup 
options when you're handling millions and billions   and even trillions of dollars worth of people's 
money you need to make sure that you have several   options to provide your data to make sure 
that there are no mistakes and no major losses   so i believe even if chainlink stays the dominant 
force in the space for years to come there will   still be plenty more that can take up a large 
portion of the market share i made a video the   other day about one that i like called DOS 
network and today i've got another one for you   called tellor trb tellor currently has a market 
cap of 78 million dollars which means it would   have to do over a 150 x to catch up the chainlink 
i don't necessarily think that's going to happen   but i do think there's a ton of room for growth 
one thing to note for those of you that hold trb   they did recently have a proposal that 
was voted on by their community members   that proposal caused a little bug in their code 
and they needed to do a hard fork in order to make   sure that everybody has their tokens so if you've 
been holding trb and you don't know about this   they have a guide here on their medium i'll 
leave a link to that in the description   for anybody who's holding trb you need to swap 
your tokens for this new token that they launched   it's the same supply same everything 
it's just simply a new contract   they basically had to roll back the code in order 
to secure everybody's funds i'm going to talk   about some technical stuff about how tellor works 
for those of you who are interested so basically   when people query the system and they need to get 
some data tellor sends that query to its miners   along with the proof-of-work challenge the first 
five miners to solve that challenge and submit the   data are able to get the reward for solving that 
block the reward is in the form of their trb token   there's a new block every five minutes these 
miners have to lock up a pretty large stake of trb   tokens in order to participate in the mining which 
means if they submit data that turns out to be   false they stand to lose a lot of money so they're 
incentivized to provide correct data when people   submit queries for data that they want included 
in the block they're able to provide a tip in   the form of trb tokens kind of the same way that 
if you wanted to push a transaction through on   the ethereum network you could give a higher gas 
fee in order to get your transaction prioritized   well the same concept applies here you can add trb 
as a tip to the miners in order to get your query   prioritized because only the top five most funded 
queries get put into the block every five minutes   so basically the more demand that there is for 
a specific data point the more likely it is to   get included in the block the first five miners 
to solve that pow solution and provide the data   are rewarded with newly minted trb tokens plus the 
tips provided by the people requesting that data   one thing i do like here is that only half 
of the tips go to the miners and the other   half get burned this creates scarcity we all 
like token burns it makes the number go up   i'm not going to go too far into the technical 
details here because that's beyond the scope   of this video but i think that covers the basic 
functionality and how it all works if you do want   to dive deep into it and you're a developer i will 
link to the documentation in the description below   one other notable thing to mention is that they 
also plan on launching their oracle service on   the binance smart chain within the next few 
months at some point they are still going   to be staying on ethereum mainly but they will 
also have the option for people to request data   on the binance smart chain they also have weekly 
community calls on their youtube channel so every   single week they're answering questions from all 
their community members they're communicating with   their progress i really like open and transparent 
teams like that they're very easy to get a hold of   which is always a plus as you can see here the 
majority of the supply is already circulating   i would assume that the remaining 80 000 
or so are reserved for mining rewards   remember that half the tips from the mining 
also get burned so in my opinion this token   becomes deflationary at some point if it's not 
already but since the fully diluted valuation   is only a couple percent higher 
than the current market cap   it makes me confident knowing that there can't 
be any large dumps of tokens hitting the market   and crashing the price i think this project has 
a lot of potential very excited to see where it   goes and i will be keeping up with their progress 
and keeping you guys updated as i find out more   i am invested in this token so i will make money 
when the price goes up keep that in mind and do   your own research this is not financial advice 
i think that's pretty much it i didn't want to   dig too deep into the technical details i know 
most of you guys won't even understand that stuff   so i want to just keep this very simple and 
short so that's my quick little summary on tellor   let me know if you know of any other oracles 
that you want me to take a look into or any   coin for that matter leave a comment below don't 
forget to smash the like button and subscribe to   the channel if you enjoy my videos that's all i 
got for today see you guys next time peace out

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