Request Network (REQ) is a new decentralized network for internet payment services built on top of the Ethereum blockchain. Request Network uses blockchain technology to make the payment process faster, easier, cheaper and more secure because every time a transaction is requested, the payment is automatically discovered by the network. Through an e-wallet, if the payment request is correct, users only need one click to complete the transaction.
The core goal of Request Network is to simplify, standardize, and secure financial instruments for the blockchain ecosystem by creating standards for payments, invoicing, accounting, and audits of electricity. and fiat currencies such as USD, EUR. It is seen as the future of e-commerce when it comes to solving the biggest payment dilemma.
Advantages of Request Network
Request Network was born with many outstanding advantages such as:
- Replacing existing payment platforms like Paypal by using blockchain technology to process and encrypt transactions, this means that records of all transactions are secure and cannot be tampered with, at the same time, helping the transaction to be processed quickly with the most economical cost.
- Some of REQ’s most appealing features are its security, as you won’t have to share your banking information with anyone after the transaction is complete, unlike through other means of communication. often. The system is also designed to be simple to use, you will receive a payment request, and it is only one click away from you being accepted.
- Request Network always ensures fast online payment support, quick invoicing and audit support. All financial data will not be lost or lost as it will all be kept securely in the blockchain, and easily accessible when needed for payment or tax purposes. Request Network is designed to support any transaction globally regardless of location, currency, law or language.
- Enables real-time accounting support.
What are REQ tokens used for?
When you create a new request or invoice using Request, you will be charged a small fee before it is deployed. This fee discourages people from using the network in malicious ways, keeping the network spam-free and productive for their users.
Since the Request network is a decentralized protocol, they plan to implement a governance structure that allows network participants to vote on decisions that are critical to the long-term success of the network. In this governance structure, the utility token REQ will be used for voting.
They intend to implement a staking mechanism which is a requirement to deploy and operate a node. By locking up an amount of REQ tokens, node operators can deploy a node to provide their end users with a valuable service, reducing the complexity of IPFS and Ethereum.
These fees are collected in a smart contract on Ethereum and are burned periodically, reducing the total number of REQ tokens in existence. The code for this contract is publicly accessible here.
REQ token holders will benefit from product discounts, as long as they are available in their respective products. The discount offered will vary for each product.
The user currently making the request will be charged a small fee in ETH, Ethereum’s native currency, which is then converted to REQ.
The REQ token allows the network to move, run concurrently on multiple blockchains, or even run on its own dedicated blockchain without damaging the core mechanisms of the network. This makes the network independent of both the currency and the technical infrastructure provided by others.
Etienne Tatur – CTO
Etienne is a “blockchain enthusiast” who graduated from INSA Lyon – a French technical school. He organized the Christophe program at Amaris in April 2011 in Geneva (Switzerland), where Etienne was the lead developer and manager of IT projects. There, he shared his passion for blockchain before becoming the company’s CTO.
Christophe Lassuyt – CFO
Christophe Lassuyt has international financial management experience across North America, Europe and Asia. After graduating from business school (NEOMA Business School), he started working as a computer controller, before becoming international CFO at Amaris and Virtua. Christophe is currently a member of the Mangrove movement. He believes that working and traveling at the same time will be more effective.
Vincent Rolland – Chief Engineer
Vincent graduated from the prestigious INSA Lyon school in France with a background in research and worked for CNRS affiliated with Stanford University. He has also carried out science projects in collaboration with the Paris Museum of Natural History. Vincent then joined Moneytis on blockchain for an international money transfer network project, improving the neomy.io project from a research and development perspective by making it autonomous.
The Request Network is a decentralized network that allows anyone to request a payment to which the recipient can securely pay. All information is stored in a decentralized validating ledger. This leads to cheaper, easier and more secure payments, and allows for more automation.
Claims can be thought of as a layer on top of Ethereum, allowing payment requests to meet the regulatory framework. A currency can also be viewed as an instrument to complete requested transactions. From this perspective, Request is more global than any currency.
You can see REQ prices here.
According to AZCoin News
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