How high can TRB coins rise? Is TRB coin worth holding for the long term?

TRB coin is called Tellor in English. It is the nativetoken of the Tellor platform and an important currency in the oracle sector. Tellor is a decentralized oracle network based on the PoW consensus mechanism. It aims to build a decentralized oracle solution that allows all participants to provide reliabledata and receive rewards. TRB coin reached its all-time high price of $602.77 at the end of 2023. Such an increase amazed investors, and they all predicted how high TRB coin could rise during the bull market? I also want to know if I can hold this TRB coin for a long time? According to predictions, it may rise to US$697.92 in the future, which has a certain investment value. The editor will tell you in detail below. The latest TRB coin price is $100.12≈￥720.864How high can the TRB coin rise? According to predictions by industry analysts, TRB currency may rise to ~$234.87 before the end of this year. Looking at the longer five-year timeline, the digital currency has the potential to grow to ~$463.13. The TRB value in 2035 is expected to increase by ~478.04% to reach ~$697.92. However, 2024 has just arrived, and its price predictions are very likely to be inaccurate. Investors should still pay attention to the volatility of the market and refer to the current market conditions.

TRB coin is the native token of the Tellor platform and is used to incentivize network participants. Data providers compete to provide accurate data to the oracle and are rewarded with TRB for their contributions. Tellor is one of the top oracle networks currently on the market. It connects smart contracts on Ethereum with external data, providing smart contracts with trustless access to valuable off-chain data (such as Internet APIs). and enable this data to be securely placed on-chain for use in DeFi.

Although Tellor is not the only oracle network available, this network is unique in that it uses miners instead of nodes. Therefore, it provides better decentralization compared to other oracle networks. In addition, Tellor supports its working mode through other tools such as DisputeCenter and Tellorscan. In this network, miners need to wait approximately 15 minutes after winning before the next vote can be cast.

An important feature of Tellor is that it uses a hybrid protocol to run its operations. This means that it uses a proof-of-work mechanism to process data, but miners who want to participate in this process need to freeze ~1000 TRB coins in a designated wallet. Therefore, it prevents malicious miners from providing bad data points.

Is TRB coin worth holding for a long time?

TRB coin is worth holding for a long time. According to official data, the current price of TRB coin is ~121.23 US dollars, which is lower than the historical high price of ~602.77 US dollars, but higher than the issue price of ~1.24 US dollars. The current investment return is very optimistic at ~+ 9676.61%, there are currently ~35 online exchanges, and the market value is ~2.06 US dollars. Overall, the current development of TRB currency is still good, and it has investment value.

Tellor has adopted a decentralized approach to build its oracle from the beginning. It combines the advantages of PoW and PoS staking. This hybrid mechanism brings it a certain security guarantee and a flexible incentive mechanism. Because the security of Tellor’s decentralized oracle is related to the value of its token TRB. So in the early days, it was difficult to provide separate oracle services for DeFi projects involving hundreds of millions of dollars in value, because this would lead to the possibility of attacks. To prevent price attacks, Tellor’s own value must first be increased. For example, if it grows into a project worth hundreds of millions or even billions of dollars, the cost of attacks will be greatly increased.

To improve Tellor’s own value, there are two ways to go. One is that Tellor can develop together with the same early encryption projects, committed to building a decentralized mechanism, and gradually realizing a positive cycle of value growth; the other method is to provide services for encryption projects together with other oracles, through cross-oracle machines Greater decentralization of the network to enable more secure decentralized oracle services.

Tellor achieves the security of on-chain quotes through the three processes of "pledge participation + POW competitive quotation + dispute voting", of which three links require the participation of token TRB. The higher the TRB value, the higher the attack cost, the higher the security of the protocol, and the more accurate the data.

The project mainly focuses on serving the defi protocol, but the disadvantage is that retrieving data requires ~10 minutes of competing quotes to complete, and data cannot be provided in real time. The team has destroyed the administrator's private key to implement community voting governance. According to the latest interview, the original development team's wallet holds approximately ~90,000 TRB tokens, accounting for ~5.7% of the current total circulation.

The security of the Tellor network depends on the value of the token TRB. Currently, in the TellorV2.5 community governance plan, half of the defi protocol call fee will be used to destroy the TRB token, and the token has value support. At the same time, the pledge amount is reduced to ~500TRB, which will encourage participation in the construction of the protocol to a certain extent, achieve more decentralization, and provide more secure data. Future development will be sustainable.

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