What is Request Network (REQ)? Overview of the Request Network project and the REQ-Coin

What is Request Network (REQ)?

Request is a decentralized network that securely enables payments between the requester and the payer. All information is stored in a valid decentralized ledger. This results in cheaper, easier, and safer payments, and allows for a lot of automation.

To become the backbone of world trade, Request integrates a common ledger with the following features:

– Popular because it is designed to support 100% of global transactions regardless of currency, law or language.

– Smart, because in contrast to existing standard ledgers. Request is the source of the exchanges and integrates the computerized trading code and manages a variety of payment terms.

Request can be viewed as a level above Ethereum 2.0, which makes it possible to meet legal requirements for payment and at the same time to see the currency as a tool for completing request transactions. In this sense, Request is more global than any currency.

How does the requirements network work?

Anyone can write to the request ledger and submit payment requests. The request can be detected by the recipient who is monitoring the network (through a wallet or through a financial application). If the request is approved by the user, it can be paid for with one click. The request is then completed and updated on the network.

For example:

Bob asks Alice to pay, then creates a request (invoice) and submits it to the blockchain; Alice’s wallet recognizes the request and processes the payment.

If Bob is on Amazon and Alice makes a purchase, Amazon makes a request to the blockchain, Alice’s phone analyzes the blockchain and recognizes the request, sends a notification, and she agrees to the payment.

Inquiries offer:

• Confidentiality, as no transfer of bank details is required
• Easy because you just click a button
• Savings as the purchase does not require a third party provider (e.g. PayPal)

In what cases is request used?

B2B invoice (B2B invoice)

Billions of invoices are shared between companies every year, with most still being sent in paper and email forms that need to be copied. This leads to some serious errors, especially when applying advanced tax or payment rules.

With Request, companies can share these invoices directly through the ledger; there are no duplicates because the accounting system is installed and updated immediately.

The company waiting for payment can immediately see the delay, which is less likely due to the evolution of the invoice payment system. The company has the option to pay at the optimal time when the request is received.

Online payments

For example: When shopping on Amazon, you must pay by credit / debit card, which reveals sensitive information. In addition, the user data is also protected when paying by request. Amazon sends a request to the network that detects the user’s account and requests payment confirmation from the user. This triggers a transfer at the lowest cost without revealing any payment information.

Unexpected credit / debit card payments that are covertly charged by the services can be avoided as payments can be authenticated before they take place.

Advantages of the request, compared to current systems are:

• Security: Payment information is never shared, there is no risk of someone intercepting and reusing banking information.
• Simplicity: One click to checkout and no manual input errors.
• Costs: There are no third-party providers like PayPal, Bitpay or Stripe, all are providers who charge between 1% and 7% of the amount sent. Request reduces costs.

Basic information about the REQ token

• Token name: Inquiry
• ticker: REQ
• Blockchain: Ether
• Token standard: ERC-20
• contract: 0x8f8221afbb33998d8584a2b05749ba73c37a938a
• Token type: Usefulness
• Total offer: 999.881.816 REQ
• Circulation supply: 771.80.862 REQ RE

• Bulk sales: 50%
• Early-stage investment funds and contributors to the project: 20%
• Reserve funds and external development funds: fifteen%
• Team and mentor: fifteen%

What is the REQ token used for?

• Grant access to payment requests
• Stake out to operate nodes.
• Administration.

REQ token storage wallet

REQ is an ERC20 token, so you have many wallet options to store this token. You can choose from the following wallets:

• Floor purse
• Popular ETH wallets: Metamask, Myetherwallet, Mycrypto, Coin98 Wallet
• Cold wallets: Ledger, Trezor

How to earn and own REQ tokens

Buy directly on the exchange.

Where can you buy and sell REQ tokens?

Currently, REQ is traded on many different exchanges with a total daily trading volume of approximately $ 840,000. The exchanges that list this token include: Binance, Uniswap, Huobi, Bitfinex, Kucoin, Gate.io, …

What is the future of the Request Network project, should I invest in REQ tokens or not?

Request Network is a solution that allows users to simplify the payment process. This network can be applied to real payment cases, such as: B2B invoice, online payment. Through this article, you must have some understanding of the basic information about the project in order to make your own investment decisions. CoinCu is not responsible for your investment decisions. I wish you every success and a lot of profit from this potential market.