Payment platforms have become increasingly simple, optimized and faster to meet the growing transaction needs in the blockchain space. Notable among these is the platform Request Network. So what is Request Network? What's so special about this payment platform? Is REQ a potential token, worth the investment? All these questions will be answered by TraderH4 in the article below.
First, let's find out in detail about the project, operation mechanism, and outstanding features of Request Network.
Request Network is a decentralized network that connects payment requesters and payers in the most secure way. All payment data in the network is stored and executed on the blockchain decentralized network. This not only makes the payment faster and more optimal, but also extremely safe.
Every user has the ability to make payment requests by writing directly to the Request Network ledger. At the same time, the Request Network platform is also capable of tracking the recipient's information, thanks to electronic wallets or current financial applications. Once the request is approved by the user, it can be done with the click of a mouse. The transaction information will be fully updated on the network once the user's payment request has been completed.
To understand better, let's take a look at the following example:
For example: B purchases A's goods on an e-commerce platform. A asks B to make a payment. Then A makes a request and passes it to the Request platform. B's wallet will recognize the payment request and process the payment.
The application of blockchain technology, makes payments on the Request Network platform much simpler and more optimal. Here are the outstanding features of Request Network.
The Request Network decentralized payment platform allows to make payment requests in a secure, optimal and easy way. Therefore, this platform is often used in some of the following cases:
B2B Invoicing (B2B Invoicing)
Nowadays, businesses often have to make billions of bills to pay each year. It is worth noting that these invoices are printed and archived in paper, email and fully transcribed. However, this form of invoice often causes some serious errors that are difficult to control or lost and difficult to find. Especially for businesses that make large payments every day, basic human and mechanical control cannot completely solve these problems.
So what is the outstanding point of B2B invoices made by Request?
Request Network shares large amounts of invoices through a blockchain ledger. This ensures that invoices will not be lost, duplicated and fully updated and easily retrieved.
In addition, Request Network can also control overdue pending invoices for timely processing. These blockchain invoices are made quickly and easily with high security for businesses.
Online payments
When shopping on e-commerce sites or making online payments with a debit or credit card, there is often a risk of this information being exposed. And of course, users will have a very high risk of money being stolen if done through a poor quality platform.
In contrast, when choosing to pay on Request Network, the user's data is absolutely guaranteed . In addition, paying by debit or credit card may incur additional hidden fees. However, this does not happen with Request Network because the transaction fee is public and transparent for users before making payment. So Request Network not only makes secure payment requests without revealing any user information, and the transaction costs are quite low.
Request Network is the first blockchain project, supported by Ycombinator - one of the most prestigious startup incubators in the world, has supported over 5,000 start-ups, valued at over $600 billion.
The Request payment platform is the brainchild conceived and created by 6 members from Moneytis company. This is a company that specializes in global money transfer services. Most of the founding team members besides Christopher Lassuyt and the CTO of the project Etienne Tatur, the other members are people with long experience in the financial field.
REQ is a utility token used as currency in the Request Network ecosystem. REQ is built on top of Ethereum according to the ERC-20 standard.
Many investors will wonder: So what exactly is REQ token used for? Here are some of the prominent roles of REQ.
REQ is an ERC-20 token, so you will have a lot of wallet options to store this token. You can choose from the following wallets:
According to updated information on Coinmarketcap, REQ token has been listed and supported on many major exchanges, such as Binance, Coinbase, Gate.io, Huobi Global, KuCoin, Kraken… The trading pair with REQ token is also quite good. variety, including: REQ/USDT , REQ/GBP , REQ/EUR , REQ/BTC , REQ/ETH , DAI/REQ ...
This is entirely your personal decision, TraderH4 cannot give investment advice or not. Since investing always comes with a lot of risk, you must thoroughly research the market, projects and price charts. However, here are some important information, TraderH4 wants to share with you about Request:
Below are the common questions that investors often ask in the process of learning about the REQ token and the Request Network project.
Where can I update Request information?
Website / Twitter / Github / Reddit
Is it possible to mine REQ coin on Request Network for profit?
The answer is No. Request does not support users with the mining feature. Since REQ is a token, you can only staking coins to receive rewards from the platform.
How to own REQ coin?
How are transaction fees on Request Network calculated?
Participating in the Request, the user has to pay the Transaction fee to the Ethereum network. In addition, traders also have to pay payment fees on the Request platform.
As can be seen, the REQ token is a core element for the project to operate. So the value of this token will completely depend on the payment volume. This is a potential niche, but Request Network has to compete directly between the media giants and other projects in the same segment. Therefore, investors need to do thorough research before making investment decisions. Good luck!
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