Tellor was launched in 2019 by a U.S.-based team with the aim to address the oracle problem on the Ethereum (ETH) blockchain. Tellor is an Ethereum-based decentralized secure oracle for decentralized finance (DeFi) decentralized applications (DApps).Tellor allows DeFi DApps to receive high-value data for smart contracts. The data feed’s stability and reliability are ensured by staked miners who participate in proof-of-work (PoW) consensus.The team behind Tellor also built Daxia which is a derivatives protocol on Ethereum. Daxia created tokens that represented long or short sides of a trading pair and an oracle was needed in order to execute these smart contracts. As a result the team created Tellor which is a decentralized purpose-built oracle solution.