The post Tellor: L1 Oracle System & BRC-20 Integration – What You Need To Know! appeared on BitcoinEthereumNews.com.

Many people all over the world are joining in on the cutting edge of blockchain innovation with Tellor, a trailblazing oracle protocol that envisions a future where oracles cater to a broad user base across diverse chains. The Blockchain Oracle Summit, now in its third year, underscores the growing maturity of the conversation around oracle risk. As 2023 comes to an end, Tellor managed to be one of the top projects this year which also saw its value go up by 1,500%. Now, the team has released some exciting news about 2024, and as we head toward the future, the momentum is undeniable, with collaborations between protocols like Chainlink and Tellor shaping the landscape of DeFi going forward. Adapting to Changing Tides & Navigating BRC20 Expansion The Tellor team acknowledges the potential for expansion in the Bitcoin ecosystem through the introduction of BRC20 assets. While the timeline for BRC20 integration remains uncertain, Tellor’s inherent flexibility positions it to scale vertically and horizontally within the ever-evolving crypto space. Engaging with potential users and understanding their use-cases forms a crucial aspect of Tellor’s research phase, paving the way for smooth and easy BRC20 asset integration in the future. With that in mind, users can embrace the future of crypto with Tellor, as the engagement with users to seamlessly integrate BRC20 assets. Be a part of the evolution as Tellor navigates the ever-changing crypto space. L1 Oracle Chain Recognizing the need for innovation in response to the dynamic crypto environment, Tellor has embarked on the development of Tellor Layer, an L1 oracle chain. The decision stems from key observations, namely ‘Application-Specific Chains’ (the emergence of numerous chains tailored for specific applications), ‘No Dominant Native System’ (absence of a singular native system, with projects operating as individual L1s or utilizing shared security zones), and…

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Filed under: News - @ December 29, 2023 7:22 pm