Tuna Chain is a modular Layer 2 solution that functions on Bitcoin while also integrating with Ethereum. Learn more about how it works in this article.

 is rightfully known for its security through its use of 

 offers greater versatility. Until recently, blockchain projects had to choose between the two. Now, however, a hybrid solution is available that blends the benefits of both of these leading blockchains and takes a bold leap into the future.

 that functions on Bitcoin while also integrating with Ethereum.

) is strongly rooted in elevating the user experience (UX). Bitcoin is the most trusted cryptocurrency, largely due to the recognized strength of its security protocols. However, while it excels in security, it lacks the versatility that ultimately fosters innovation. In this regard, Ethereum is viewed as a superior blockchain. 

Tuna Chain’s modular Layer 2 solution works on Bitcoin through a 

 hybrid layer while offering Ethereum functionality. It uses 

-powered modularity to minimize transaction costs. At the same time, this modularity improves both trust and efficiency. Tuna Chain currently supports Solana, Ethereum and Bitcoin transactions. It works with Bybit, Phantom, MetaMask, UniSat Wallet and OKX Wallet.

Tuna Chain is a new project that was established by three unknown individuals, known under the names of Tuna Nigiri, Tuna Sushi and Tuna Sashimi. Each team member brings their unique experiences and knowledge with blockchain, cryptography and 

 to move Tuna Chain forward. Tuna Chain is financially supported by BSC News, Normie Capital, Serafund, ArkStream Capital, Cogitent Ventures, MH Ventures and other angel investors. After its Ocean Festival and Ocean Trio, Tuna Chain now has over 1.3 million wallets connected on the Tuna Chain Testnet, with a total 

The purpose of Tuna Chain is to bridge the gap between Bitcoin and Ethereum. Although Bitcoin’s chain boasts superlative security, it lacks the versatility that Ethereum’s 

 provides. As a hybrid Layer 2 solution, Tuna Chain’s primary goal is to blend the two. By doing so, its founders want to push the envelope on the future of blockchains and provide a better UX.

Tuna Chain’s functionality is based on three core features: the Toro native 

, Celestia-powered modularity and a hybrid ZK-OP layer. With the Toro stablecoin, users can purchase new digital assets through the overcollateralization of their BTC supply. Meanwhile, Celestia-powered modularity improves data availability, and the ZK-OP hybrid layer executes smart contracts with fast, secure transactions.

Rollup Solutions and Operational Mechanism of Bitcoin Layer 2

Layer 2 solutions similar to those found on Ethereum enhance Bitcoin's scalability, using technologies such as 

 (ZK). Tuna Chain enhances Bitcoin's transaction capacity by integrating optimistic rollup technology into its Layer 2 framework.

Securing Native Assets on Bitcoin: Leveraging Taproot's Upgrade

 upgrade into the Bitcoin network marks a significant advancement in the security of its native assets. This update incorporates advanced cryptographic techniques, such as Schnorr Signatures, MAST and Tapscript. To further secure these assets, Tuna Chain has implemented a multisignature security model and is exploring the addition of external validators to its network security protocols.

Tuna Chain processes transactions through a detailed system that begins with the precise arrangement and execution of transactions. These are then reliably recorded on 

's data availability layer and conclusively verified on the Bitcoin blockchain. Verifiers are essential to the chain's integrity, quickly producing fraudproofs to address any transaction discrepancies and ensure the network remains secure and reliable.

Tuna Chain is a next-level Layer 2 solution that moves blockchain into the future. Each of its core features provides unique benefits to support a superior UX. 

Tuna Chain uses Celestia-powered modularity to optimize its Layer 2 functionality. Specifically, this modularity is supported by Layer 2 data management that enhances trust, improves efficiency and reduces transaction fees.

The ZK-OP Layer is Tuna Chain’s hybrid Layer 2. This layer utilizes a dual-phase architecture that integrates Ethereum’s benefits with those of Bitcoin. By doing so, it empowers smart contracts and accelerates secure transactions.

 is a grand opening event celebrating Tuna Chain’s launch. During this grand opening, the first round of TUN tokens will be distributed. Distribution cap for this initial release is based on 

 growth driven by the community, and could range between 2% and 21%. The token supply increases by 2% as each new milestone is achieved.

, the setup experience for new community members, consists of Calm Waters, Whimsical Tides and Majestic Depths. With Calm Waters, new users can receive 60 points for following Tuna Chain on social media and linking their wallet. Additional points are available by referring friends to Tuna Chain. Whimsical Tides, the testnet phase, is still in development along with Majestic Depths.

In the first quarter of 2024, Tuna Chain successfully completed several milestones, including the launch of the Tuna Testnet — Alpha, Ocean Trio Points campaign, Ocean Festival (which highlights the TVL) and the rollout of the TunaChain Explorer. 

Moving into Q2 2024, progress is ongoing with significant developments. Tuna Chain’s team is currently deploying an optimistic rollup (OP)-based Mainnet, establishing a native bridge from Bitcoin to the Tuna Mainnet, launching a Mainnet decentralized exchange (

), and developing a modular data availability (DA) layer.

Tuna Chain functions with three primary tokens: TORO, TUNA and WOOG. Each serves a different and integral role.

TORO, Tuna Chain’s native stablecoin, helps users transform their BTC into their choice of high-yield digital assets. This is accomplished seamlessly and with full transactional stability. The user doesn’t need to liquidate the BTC to complete the transaction.

 of Tuna Chain, is used for various purposes, such as revenue generation, funding builders and contributors, benefiting token holders, incentivizing users and community members, and promoting community engagement within the Tuna Chain ecosystem.

TUNA has a total token supply of 210,000,000.

 token that acts as the primary ticket into the Tuna Chain ecosystem. Only 200 of 1,000 available WOOG tokens were distributed at the BRC-20 Launchpad event. The remaining WOOG will be distributed only when they’re activated by external forces.

Looking to get your hands on the TUNA token? Bybit will soon offer it via our 

In the meantime, you can also purchase TUNA through 

WOOG tokens grant access to the Tuna Chain ecosystem. Of the total supply of 1,000 tokens, only 200 are currently scheduled to be released. These tokens are exclusively available through the 

. There’s a purchase limit of one WOOG token. While 800 WOOG tokens will remain, they’re sealed, and their release isn’t scheduled. You must have an active Bybit account with a funded wallet to participate in the event. 

TUNA tokens play a fundamental role in governance of the Tuna Chain’s unique hybrid Layer 2 chain, designed to deliver the benefits offered by both Bitcoin and Ethereum. Tuna Chain is presented as the future of blockchain, and is poised to change the blockchain landscape in exciting ways, which could place a premium on TUNA tokens. 

As an investment, TUNA should be purchased conscientiously because the value of the tokens will decrease when additional tokens are released, even for a short period of time. In addition, all cryptocurrencies are speculative in nature, with a risk of partial or complete loss. Therefore, 

 cryptocurrencies before making an investment.

Tuna Chain is a hybrid Layer 2 solution that provides a much-needed service in the blockchain world. By bridging the gap between Bitcoin and Ethereum, it allows users to enjoy the best of both worlds. In doing so, it has the potential to move the dial forward significantly in blockchain technology. Moving forward, Tuna Chain is a platform worthy of attention.

Intermediate

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Tuna Chain (TUNA): Reinventing Bitcoin With a ZK-OP Approach

We'll guide you through step-by-step to opening an account on Bybit to start your crypto trading journey now.

With more crypto projects being launched by the day, many traders are eager to jump on the bandwagon and take advantage of these potential investment opportunities. If you’re one of them, consider riding the crypto wave with Bybit! But before you do so, be sure to 

 first. Read our detailed guide on how you can create a Bybit account to start your trading journey today!

There are two ways for you to create a Bybit account. You can choose to sign up with your email address, or with your mobile phone number, whichever is more convenient for you to use. You can also choose to sign up on your desktop or on your mobile phone. 

Please note that if your country falls under Bybit's 

, you will not be able to sign up with Bybit. 

Choose your preferred method of signing up: 

. Then, input the necessary details accordingly. 

Note that the Referral Code field is optional and can be left blank.

 will pop up. If you’re not from any of the countries listed, click on 

Complete the reCAPTCHA verification and enter the verification code that you’ve received based on your preferred method of registration. 

, you’ll receive the code in your email inbox or spam/junk inbox. If you’ve selected 

, you’ll receive an SMS code on your mobile device.

Note that the Referral Code field is optional, and can be left blank.

A window showing a list of restricted countries and regions will pop up. If you’re not from any of the countries listed, select 

Complete the reCAPTCHA verification and input the verification code that you’ve received based on your preferred method of registration. 

Once you’ve successfully registered, you can proceed to 

You can either deposit your crypto into your Bybit account from an external wallet or another crypto exchange, or 

on Bybit to start trading. There are several ways to buy crypto on Bybit. You can do so through 

 (via credit/debit card or third-party payments like Google Pay), 

After you’ve funded your account, you can proceed to explore the various Bybit products available — such as the 

Now that you’ve learned how to create a Bybit account, you can explore the Bybit platform and make trades whenever you spot potential investment opportunities. In addition, stay tuned to our 

 for educational materials to aid you in your crypto journey.

Beginner

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Bybit Sign-Up: How to Create a Bybit Account (Step-By-Step)

Notable Ethereum Spot ETF applications have come from high-profile issuers that received approval for Bitcoin Spot ETFs earlier this year. Learn more here.

The cryptocurrency landscape could be on the brink of a major shake-up as several Ethereum spot exchange-traded fund (

) applications await regulatory approval. These financial instruments promise to bridge the gap between traditional investment markets and the fast-growing world of digital assets, offering investors a regulated and accessible means for gaining exposure to 

This article explores the top pending Ethereum Spot ETF applications, exploring their significance, potential impact on the market and implications for the broader adoption of cryptocurrencies.

What Is an Ethereum Spot ETF Application?

An Ethereum Spot ETF application is a filing submitted to regulatory bodies, such as the U.S. Securities and Exchange Commission (SEC), to list an exchange-traded fund that tracks the price of Ether (ETH), allowing investors to gain exposure to the cryptocurrency without directly holding it.

How Does an Ethereum Spot ETF Application Work?

An Ethereum Spot ETF application is a formal request by a financial institution to gain regulatory approval to offer a financial product that tracks the price of Ether (ETH), the second-largest cryptocurrency and the token of the Ethereum network, in real time. 

Investors can participate in the ETF by purchasing shares through their brokerage accounts. This way, they can gain exposure to Ether's price movements without the complexities associated with directly buying or holding the cryptocurrency. The ETF provider assumes responsibility for securely holding the Ether, managing the fund's day-to-day operations and ensuring ongoing compliance with regulatory requirements.

Current Ethereum Spot ETF Application Landscape

, Fidelity, VanEck and ARK 21Shares have all thrown their hats into the ring by submitting applications to the SEC for approval. These particular issuers have previously applied to run Bitcoin Spot ETFs that are currently approved and trading.

However, the SEC has pushed back on the recent Ethereum Spot ETF applications, prolonging the decision-making process. They've also sought public feedback in order to gauge whether the arguments supporting the approval of Bitcoin Spot ETFs are applicable to Ethereum Spot ETFs as well.

Anticipation has continued to build with the approach of the final deadlines for the SEC's decisions, set for between May 23 and Jul 5, 2024 for various applicants. The SEC's review process involves assessing factors such as the potential for market manipulation and the resemblance between Ethereum spot and futures exchange-traded products.

The outcome of these applications holds significant weight, as it could shape the future landscape of cryptocurrency investment vehicles and play an important role in driving broader adoption of Ethereum within traditional financial markets. Investors and observers alike are closely monitoring these developments, recognizing their potential to influence the trajectory of both Ethereum and the wider crypto market.

Top High-Profile Ethereum Spot ETF Applications

Several high-profile financial institutions have applied for Ethereum Spot ETFs, reflecting a growing interest in cryptocurrency investment products. Following is a list of some notable contenders.

BlackRock, a global investment giant and the world’s largest asset manager, submitted its 

 Ethereum Trust, in November 2023. However, the SEC postponed its decision to late January 2024 and again to March. The SEC is currently seeking public comment on the application, particularly concerning Ethereum’s susceptibility to fraud, and has delayed its decision until Jun 11, 2024.

Franklin Templeton, another major player in the investment world, 

 for an Ethereum Spot ETF in February 2024, making it the latest contender to join several other firms in the race. The SEC has delayed the deadline to June 2024 to rule on the firm’s application. If approved, the fund will be listed on the Chicago Board Options Exchange as Franklin Ethereum ETF.

Known for its ETFs and mutual funds, investment management firm VanEck has expressed doubts about the SEC's approval of its Ethereum Spot ETF application, 

 in July 2021. Although the SEC’s decision is expected in May 2024, VanEck’s CEO has voiced his skepticism of approval by the May 23, 2024 deadline, citing the regulators' ominous silence. Notably, VanEck holds the distinction of being the first investment management firm to file an ETH Spot ETF application in the United States.

21Shares specializes in cryptocurrency exchange-traded products (

), while ARK Invest focuses on thematic investing. The two firms 

 for the ARK 21Shares Ethereum ETF in September 2023, with the SEC expected to decide by May 24, 2024. The application has been 

 to include a cash-creation model, and has proposed plans to stake a portion of the ETF’s Ether for generating additional income.

A global asset manager focused on cryptocurrencies, Hashdex 

 with the SEC in September 2023 to list and trade shares of the 

 its decision on the application, with a verdict expected by late May 2024.

Grayscale is the world’s largest digital currency asset manager, with a range of investment products that provides exposure to cryptocurrencies and the digital currency asset class. The firm 

 its Grayscale Ethereum Trust into an Ether Spot ETF in October 2023. The SEC extended the review period, setting a new deadline for June 2024. 

Invesco, an investment management firm, has partnered with Galaxy Digital, a diversified financial services firm, to create a 

 for an Ethereum Spot ETF to be named the Invesco Galaxy Ethereum ETF. The SEC's decision, expected in December 2023, has been 

Fidelity Investments is a major financial services corporation with a global presence and millions of customers. Fidelity first filed for an Ethereum Spot ETF in November 2023. It later 

 its application in March 2024 to include ETH staking, which would allow investors to earn additional income from staking rewards. The SEC has set a deadline of May 23, 2024 to approve or deny the application.

What Could Happen If an Ethereum Spot ETF Application Is Approved?

The approval of an Ethereum Spot ETF application holds significant implications for the cryptocurrency market.

Approval of an Ethereum Spot ETF could mark a significant milestone for the crypto market. It would greatly improve Ethereum's accessibility, bolster market confidence and potentially drive up Ether’s price. In addition, such an approval would represent a new milestone in cryptocurrency adoption, providing investors with a regulated and easy avenue for investing in Ethereum. Nevertheless, regulatory hurdles and market volatility are variables that could influence the timing and magnitude of the approval of the pending applications.

ethereum spot etf applications featured image

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An Overview of the Top Pending Ethereum Spot ETF Applications

Bybit Position Builder is an easy-to-use tool that helps you manage portfolio with various derivative products such as perpetuals, futures, and options. Learn how it works. 

Managing a diverse investment portfolio across various accounts can be a daunting and complex task for novice and experienced investors alike. Some common challenges users face include keeping track of their positions, maintaining a balanced risk profile and staying informed about market changes. Users may incur opportunity costs or make suboptimal investment decisions without a clear overview of 

 (P&L) or the flexibility to customize a trading template.

This guide introduces Bybit Position Builder, an innovative tool designed to help you manage your portfolio efficiently. Here, you’ll learn its key features and benefits and how to harness them to create a tailored and well-rounded investment strategy. 

Bybit Position Builder is an easy-to-use tool that helps you quickly create and manage portfolios with various 

With a built-in chart to show your custom portfolio's profit and loss (P&L), Position Builder lets you keep an eye on your contracts and control them all in one place. You can add positions on different contracts and use ready-made strategies to improve your trades. Additionally, you can place many orders simultaneously, saving you time and energy.

Position Builder simplifies the process of establishing, adjusting and overseeing portfolios, allowing traders to concentrate on executing their strategies and adapting to ever-changing market conditions.

To begin using Position Builder, first access its page on the Bybit trading platform, typically located within the Perpetuals or Options trading interfaces. From there, you can customize your portfolio by adding various contract types, selecting the desired coin, choosing contracts, determining the type and direction and specifying the position size and price.

Bybit Position Builder enables you to apply tailored strategies and 

 levels to your positions, ensuring your portfolio aligns with specific trading goals and risk tolerance. One of the tool's most notable features is its ability to place multiple orders simultaneously, providing a competitive edge in fast-paced markets.

With Position Builder, you can effortlessly adjust and monitor your positions, which enables you to set leverage, edit prices and position sizes and view order book status. It also enables easier 

 options exposure to changes in an underlying asset’s price. Maintaining a delta-neutral position requires regularly adjusting positions. 

Position Builder offers a comprehensive overview of P&L, margin occupied and 

 values, equipping you with the information you need to effectively track and analyze your portfolio's performance. You can also customize your P&L chart by selecting a strike price range, dragging the implied volatility (IV) range and modifying the expiration date. This helps you visualize your portfolio's performance under varying market conditions, leading to better trading decisions.

5 Reasons Why You Should Use Bybit Position Builder

Bybit Position Builder offers a wide range of features tailored to enhance your trading experience and optimize your results. Here are five reasons to try it out.

Here’s a step-by-step guide to quickly build your trading portfolio with Position Builder on Bybit. Before we dive in, ensure you upgrade your account to a 

 which can handle multiple orders. Also, note that only market and limit orders are currently supported.

Step 1: Access the Position Builder Page in One of Two Ways 

Step 2: Use Position Builder to Place Your Order

Position Builder supports up to 200 orders with various contract types and strategies. 

For additional customization, use Delta Hedging to maintain a delta-neutral position.

: Traders can customize their orders with no position limitations. However, only 20 legs of options are supported at one time. 

Personalize your P&L chart by selecting a strike price range, dragging the implied volatility (IV) range and modifying the expiration date.

Step 4: View Total P&L, Margin and Greeks

On the right side of the page, see important information such as overall P&L, margin occupied and Greek values. Click on 

For orders involving multiple legs with a long-short hedging relationship, it's recommended you use 

1. Is Position Builder free for all Bybit users? 

Bybit’s Position Builder is free for all users.

2. Can I use Position Builder for Bybit Spot trading? 

No, the Position Builder function is currently available only for Bybit Derivatives. However, we’re constantly innovating and more features will be added gradually. 

3. Are the estimated profits indicated by Position Builder guaranteed? 

No, the estimated profits indicated by Bybit Position Builder are not guaranteed.

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Position Builder: What Is It & How to Efficiently Manage Your Portfolio

Bybit Learn

DeFi

Altcoins

Explainers

Tellor is an interoperable multi-chain oracle network that can connect Ethereum and other EVM chains to external data. 

Data is becoming an increasingly valuable commodity, which makes securing data more important than ever. Despite how often digital interaction occurs, data that exists off-chain can't be accessed by blockchain-based applications. Without access to this valuable off-chain data, it can be a challenge to use 

 in real-world situations. While there is an innovative method to connect blockchains to real-world data via 

, these systems are often criticized due to their risk of reliance on third parties.

To solve the issue, Tellor and its TRB token have been designed to provide 

 with connections to external data. On that note, if you’d like to invest your money in a project that could push the crypto industry forward, this guide explains everything you need to know about the Tellor system before you make that investment.

 is an interoperable multi-chain oracle network that can connect Ethereum 

The blockchain-based network is a secure, decentralized system that runs on major chains like Ethereum, 

The Tellor system was launched in 2019 by Michael Zemrose and Brenda Loya. Based in the U.S., the project was designed to resolve the issues oracles usually face, namely low speeds and high costs for off-chain data feeds. 

The platform is designed to provide Ethereum smart contracts with useful off-chain data. Every data feed that the project uses is stable and reliable. Before the Tellor oracle network was developed, crypto users were tasked with entering a standard cryptocurrency exchange to look up live data about the crypto market, as well as information about current market metrics. Exchanges are equipped with application programming interfaces (APIs) that provide users with the opportunity to keep track of up-to-date data feeds.

Tellor enables users to access the data in a single location via an oracle feed, or Ethereum-based smart contracts. The oracle feed sources reliable, real-time information that users can draw upon without navigating to an exchange.

Ethereum-based smart contracts typically don't have access to any off-chain data. Often, only the info in the contract is accessible. The Tellor network resolves this issue by making it easy for smart contracts to be connected to each on-chain data bank. These connections are directly backed by staked 

, referred to as Reporters within the Tellor network, with the upgrade of its system from 

Hosted directly on Ethereum, Tellor is a type of oracle network that's able to provide Ethereum-based smart contracts with off-chain data. The platform exists as a medium situated between Ethereum and the off-chain data point that the Tellor oracle accesses. Once connections between the two are made, users are provided with 

 feeds. By using the oracle as a bridge that supports the connection, third parties are no longer needed, which allows for increased decentralization.

Previously, the network ran on a hybrid PoW and PoS algorithm, with staked miners who provide Ethereum with secure and trustless data. Miners work together to solve mathematical equations and other problems. Once the problems are solved, off-chain information is confirmed and validated. 

With the revamp to a full PoS mechanism, Tellor 

 in which the miners are now referred to as Reporters. Instead of competing to answer queries on-chain, a single Reporter performs the recording and reporting of data.

By validating information before sending it to Ethereum, Tellor prevents the manipulation of data pulled from off-chain sources. Since Reporters must provide staked tokens to participate, they’re appropriately incentivized to deliver accurate data. If inaccurate info is submitted, Reporters can lose their tokens.

Also known as Tellor Tribute (TRB), the Tellor token is based on Ethereum and supports the platform’s incentivization program. TRB is staked directly by Reporters, and Tellor rewards the Reporters with "tips," which are paid when queries are accurately answered.

The platform is outfitted with a range of features that include everything from security to a 

Tellor’s security is administered via architecture that employs a bond/dispute mechanism to ensure the accuracy of offered data. The overall security of this network largely depends upon the dispute mechanism and the Reporters, who are responsible for responding to off-chain data requests. These Reporters have to bond or stake TRB before providing data, and risk losing their stake should the dispute mechanism deem their data to be a false report.

As previously mentioned, Tellor uses a unique 

 that allows users to challenge a data value immediately after data is positioned on-chain. If data remains on-chain for a lengthy period of time without being disputed, it's likely to remain secure. Tellor can safely assume that unchallenged data is secure since users are incentivized to dispute invalid values.

Anyone can dispute a data submission once a value is positioned on-chain. However, the challenger needs to pay a small dispute fee. Once the fee is paid and the challenge has been properly submitted, the account of the Reporter who originally submitted the data will be locked until a vote takes place. Over the course of two days, the Tellor governance mechanism allows voting to occur on the validity of the data. If the user is unable to wait for the final vote result, they can request the data again.

If the data is correct, the Reporter’s account is unlocked, and they receive the fee that the challenger paid. In the event the data is incorrect, the challenger receives a reward. If the data is determined to be invalid, both the Reporter and challenger get to keep their tokens, minimizing the risk of penalizing two innocent parties.

Tellor’s governance system is centered on settling disputes or challenges. This system is also used when new features or upgrades to the Tellor platform need a vote. For instance, a change to the monetary policy can occur only once a vote has taken place. Voting power is balanced primarily among TRB holders, users, Reporters and the Tellor team. 

While each group of stakeholders’ voting weight is equal, users and Reporters can adjust their voting power based on their level of activity in the system. 

The number of tips affects users’ level of influence. Reporters can increase their voting power with each valid data submission. Meanwhile, TRB holders’ influence is determined by the amount of TRB they hold on the chain in which the vote is occurring. The team's 

 acts as a tiebreaker and helps to safeguard the integrity of the system in its developmental stage. However, it will eventually be replaced as the system matures and there are sufficient users, Reporters and TRB holders working to establish checks and balances.

One crucial aspect of Tellor's governance system is that Tellor can be deployed across numerous chains. While TRB is an 

 token situated on the Ethereum network, users can launch the Tellor platform on practically any chain, and the governance and dispute resolution has to change to accommodate the chain in question. Governance for Tellor on a different chain is dictated by the stakeholders on that specific chain, and the inflationary time-based rewards are exclusive to Ethereum.

A Reporter stakes or bonds a minimum of 100 TRB (or $1,500 in TRB, whichever is greater in USD value) on the Ethereum chain. The minimum staking amount varies, depending upon the chain used. After staking, the Reporter can submit data for any query. 

Reporters are incentivized to present data to the user with the highest tip, and are rewarded for their data provision with 2% in tips and time-based inflationary rewards. After providing the data, however, the Reporter has to wait for a minimum 12-hour period (which can be configured) before they can submit again. 

Should a user require data more frequently than provided for when the time-based rewards exceed the gas costs, they can opt to include additional tips to boost the speed of the oracle.

 to its system in response to the continuing evolution of crypto and blockchain. This upgrade, termed the Tellor Layer, addresses several challenges, including the absence of a dominant blockchain as a native system, with the blockchains all utilized for various purposes, and the lack of distinction between a Layer 2 blockchain and a Layer 1 with a trustless bridge.

Additionally, as the internet transitions from Web 2.0 to 

, there will be increased demand for blockchain services, accompanied by heightened expectations for enhanced performance, finality and security of blockchain transactions. 

Tellor Layer is set to facilitate increased validation of data through a greater number of validators. Its modular governance will also help flexibly customize its governance framework. Users will be able to boost security by adding staking requirements. Furthermore, Tellor Layer will expand its scope of support, encompassing non-EVM chains in addition to EVM chains.

Tellor can be used as an oracle for all kinds of off-chain information. Because of how the platform is structured, it's not perfectly positioned to be used for high-speed values that require immediate accuracy. However, Tellor currently has many use cases. The platform’s team wants to further increase use cases in the months and years to come. Tellor’s use cases include:

Tellor Tribute (TRB), Tellor’s native token, drives the entire network, as it’s used to fund the contract that offers payment to the data Reporters. The Reporters also have to stake TRB as bond or collateral, which serves as a deterrent to malicious behavior that could harm the network. The Tellor token is the primary aspect of network security. When the token price is high, the cost of directly attacking the network is more expensive. 

The price of Tellor Tribute (TRB) has recently seen a sharp rise, shooting from below $10 in August to above $100 by the end of October. It now sits at $105.40, just about 35% lower than its all-time high of $161.12 on May 10, 2021, and over 1,000% higher than its lowest price of $0.01 on Nov 1, 2019.

While price analysts generally anticipate an uptrend for the token’s value, their predictions regarding its price trajectory vary. 

 a similarly conservative view, expecting it to be between $200 to $300 by 2030. On the other hand, DigitalCoinPrice presents a 

, foreseeing a peak of $381.59 in 2025, potentially surpassing $1,000 by 2030 and reaching $1,103.32.

Tellor has a considerable amount of value in the crypto industry since it solves the cost and speed issues with oracles. Even though the future of the platform isn't set in stone, DeFi applications are continuing to increase in popularity, which indicates a relatively bright future for Tellor. 

Moreover, Tellor is actively preparing to cater to the future development of the crypto space, exemplified by their proposed Tellor Layer protocol, which is poised to enhance their network’s flexibility. 

In addition, Tellor is committed to completely decentralizing their data specifications, granting greater flexibility in requests for custom data. To this end, the network has built an on-chain registry that connects the query type name with a document addressed by a hash on the IPFS. The on-chain registry empowers everyone to manage their data specifications efficiently. Additionally, hosting the document as a hash on IPFS minimizes gas consumption, as a majority of the document is stored off-chain.

All of these developments indicate Tellor’s positive potential as an investment. Alongside its recent price increase, Tellor’s price looks set to surge further. Nevertheless, it’s crucial to note that these observations aren’t financial advice. Given crypto’s volatile nature, it’s recommended you always 

Tellor (TRB): A Secure Solution to Bringing Off-Chain Data On-Chain

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