What is Request Network? Details about the project and the REQ . token

• General overview of Request Network (REQ)
• What is Request Network (REQ)?
• How Request Network works
• Outstanding features of Request Network
• Request Network is used for what cases?
• Project development team
• General information about the REQ . token
• What are REQ tokens used for?
• REQ Token Allocation
• Today's secure REQ token exchange and storage wallet
• What is the future of the Request Network project? Should I invest in REQ tokens?
• Frequently asked questions about Request Network
• Conclude

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. 

General Overview of Requests (REQs)

First, let's find out in detail about the project, operation mechanism, and outstanding features of Request Network. 

What is 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. 

How Request works

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. 

Salient features of Request

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.

• High security: Users of the Request Network platform, will not have to share information about their bank accounts with anyone. This feature will help ensure that payments will never be shared, lost or misplaced, so there will be no risks such as being blocked by others or losing money due to a hacked bank account. row. 
• Optimal transaction costs: This is because Request Network does not require users to use 3rd party payment parties like Bitpay, Stripe or Paypal. Thus, the user's payment costs have been significantly reduced
• Simplicity and ease : Not only is it optimal, but requesting and making payments is also very quick and simple. Payment is just one click away and completely free of any manual input errors.
• Replacing major payment platforms, such as Paypal: Request Network has used blockchain technology to solve payment problems safely, effectively and avoid forgery. This platform is gradually replacing the major traditional payment platforms today.
• Request Network is designed to support all transactions globally regardless of location, currency, law or language, and supports real-time accounting. 

Request Network is used for what cases?

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. 

Project development team

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. 

General information about the REQ . token

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. 

What are REQ tokens used for?

Many investors will wonder: So what exactly is REQ token used for? Here are some of the prominent roles of REQ.

• Use as a reward: Request uses REQ to automatically reward platforms that develop Dapps and integrated utilities on Request Network. 
• Governance: The REQ token is also used to participate in discussions or vote on proposals to improve Request Network. 
• Currency Independent: The REQ token is a currency independent token. This means that REQ will not depend on any cryptocurrency, including ETH. Although, REQ is an ERC-20 standard token.
• The REQ token can be easily exchanged between other tokens in the Ethereum network, thanks to the partnership with Kyber Network.

Token details 

• Token Name: Request Network
• Ticker: REQ
• Blockchain: Ethereum
• Token Type: Utility token
• Token Standard: ERC-20
• Circulating Supply:999,846,320.46 REQ
• Total Supply: 999,877.117 REQ
• Contract: 0x8f8221afbb33998d8584a2b05749ba73c37a938a

REQ Token Allocation 

• Crowdsale: 50% of tokens are issued through Crowdsale.
• Early Backers & Contributors: 20% for funds – backers who participated in early stage project support (private sale).
• Development Fund: 15% is used to develop the Request Network fund with the mission of improving and developing this payment platform in the future. 
• Team & Advisors: 15% for Request Network's founding team.

Today's secure REQ token exchange and storage wallet

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:

• Exchange wallets: Hot wallets of exchanges that have listed REQ tokens such as Binance, Coinbase, Gate.io, Huobi Global...
• Utility wallets: Metamask, Myetherwallet, Mycrypto, Coin98 wallet.
• Cold wallets: Ledger, Trezor.

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 ...

What is the future of the Request Network project? Should I invest in REQ tokens?

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:

• Request Network is active in the field of online payments and the value of the payment array is about one trillion US dollars. It can be said that this is a fertile land with a lot of potential for development. 
• Despite its potential, Request immediately encountered rivals:

• Traditional: Paypal, Stripe or Venmo.
• Crypto: Omisego (OMG), Metal (MTL), TenX (PAY), Populous (PPT), Monaco (MCO), Everex (EVX)…
• Request Network Resources: Backed by YCombinator - supporting more than 5,000 companies with a total value of up to 600 billion USD. Besides, there is the support of many important strategic partners such as Kyber Network (KNC), Quanstamp (QST), Iexec (RLC)...

Frequently asked questions about Request Network

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?

• Join the free Airdrop/Bounty program.
• Join staking or Mining REQ coin to get rewards.
• Buy REQ coin on exchanges that list this coin such as: Binance, Gate.io, KuCoin, MEXC Global...

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.

summary

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!