The Request Network has declared war on big payment services such as PayPal. Request is a decentralized peer-to-peer network that works as a payment system. To do this, it uses the etherum blockchain technologies. Payments should be cheaper and more transparent with Request.
About The Request Network
The Request Network is a decentralized network for payment systems. It is built on the Ethereum Blockchain. Anyone can request a payment from someone else, regardless of location.
Payments can be made directly by the other party without a third party and in a secure environment. Thanks to the Ethereum Blockchain, payments are unchangeable and secured, which also makes it possible to make accounting safer and easier.
The request network works (in the future) with any currency, which means that the recipient can, for example, request payment in Bitcoin or Ether and the sender can pay in Euros or YEN.
The exciting thing about Request Network, which is also called PayPal 2.0, are the options of different applications. Request is not alone in its efforts to break PayPal's quasi-monopoly. OmiseGo has a similar approach. The Coins Populous and TenX approach this topic differently, but there could also be competition here. Surely the strongest opponent is still PayPal itself. However, if the team offers the better alternative, it looks very good for the forecast.
Request is not just an ordinary payment system, it offers a lot more:
The first, obvious area of application is the payment of online services and goods. Instead of "Pay with PayPal" you can in the future "Pay with Request". This is advantageous for the buyer, as he no longer has to disclose personal bank details. But also and especially for the seller, who no longer has to pay a third party up to 6%. This could also have a positive effect on the customer since the price could be reduced.
Accounting And Bookkeeping
The accounting and reviews of these fall into the third area of application. Because the request network and all data are unchangeable, payment data can be processed easily. This means that changing tax advisors or software for taxes means that there are no more expensive fees.
The request network offers this and many other possible applications for payment. Because Request is a network and not a provider, people around the world can participate and present their application.
Invoicing is the second area of application that benefits providers and sellers in particular. Standardized and automated invoices are offered via the request network. Payments and bills can be planned (e.g. monthly or weekly), even financing is possible with the request network. In addition, an escrow service is to be integrated to prevent fraudulent activities.
Request Network Token (REQ Token)
The request network has its own token, the request network token. The token was created by an ICO, which took place from October 13 to 16, 2017. The price per token was $ 0.0672 (0.0002 ETH) and a total of 1,000,000,000 REQ tokens were created.
With many new ICOs, the question should be asked: What is a separate token needed for and whether one could not simply use ether for the project? Although the request network could also charge ether fees, it was necessary to create REQ tokens. On the one hand, REQ tokens can be transferred to any other blockchain (loose) technology, which makes the network independent of other systems and thus of their failures. On the other hand, the request network creates its own community that pursues the same goals as the team.
REQ tokens are used to participate in the request network and to reward developers who work on the network. You find Request on market cap rank #229. REQ`s price today is $0.00788193 with a 24-hour trading volume of $93,992.
Where Can I Buy Request (REQ)?
The most active exchange where Request (REQ) is traded is Binance.
What Wallet Can I Use?
The Request Token is an ERC20 token like the ones we are tipping on publish0x. This means that you can save it on wallets designed to hold ERC20 tokens.
First of all, I have to point out that the most optimal and most secure way to store your Request (REQ) is a hardware wallet like the Ledger Nano S or the Trezor One, especially if you are holding larger sums. Only if you are not willing to invest money in a hardware wallet, you should think of a hot wallet.
Trust Wallet is such a hot wallet supported by the popular Binance exchange. It supports all ERC20 Tokens existing. It is a decentralized wallet that also allows STAKING. It`s available for Google Android and Apple IOS. You can also use it to withdraw all ERC20 tokens like Basic Attention Token or DAI that you have earned here on publish0x.
By using this invitation link you will receive 100 Trust Wallet Token (TWT) worth $10 in the ongoing AIRDROP.
My Conclusion About Request
The Request network has a well-thought-out concept. There is great potential in the network, only some competition has to be expected.
Should Request Network prevail, however, it could become the payment service par excellence.
It is therefore clear that anyone who is convinced of the Request Network can place a bet on the success of the project by purchasing the token.
I hope I could provide you with some interesting and useful information. Please make sure to follow me here on publish0x.
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