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Table Of Contents
Request (REQ) is a decentralized network and cryptocurrency that empowers users to send virtual payment requests. The protocol provides a streamlined way for companies to invoice clientele while leveraging the immutable nature of blockchain technology. Its combination of features and services has helped the network to see increased adoption.
The Request network has grown considerably since its launch in 2017. Today, there are currently +900 companies using Request to power their DAOs (decentralized autonomous organizations) and manage their invoices. Notably, DAO is a term used to describe the act of decentralizing a centralized business. DAOs replace executives and personal with smart contracts. As such, they are much more efficient and can be community governed.
The Request network has grown into a vibrant ecosystem of interoperable financial apps. There are applications to help you improve your accounting or track your digital assets better. This ecosystem continues to expand as more developers join to take advantage of Request's unique features. In this way, Request fulfills its goal to create a seamless financial experience for those seeking to integrate blockchain payment services into their existing business structure.
What Problems Does Request (REQ) Attempt to Fix?
There are some serious problems in the market today that Request attempts to rectify. For one, the protocol helps to fight fraud. Since all transactions are kept on the Ethereum blockchain, there is always an immutable record to reference. Companies and users can see items such as transaction requests, details, and more.
Request helps to combat some glaring inefficiencies in the market as well. The protocol enables users to send and receive funding in a peer-to-peer manner. This strategy lowers costs and helps to fight the growing centralization of payment processors. Vendors save on fees when they utilize direct processing without any intermediaries.
Lack of Interoperability
Request's structure enables it to tackle one of the biggest issues in the market, interoperability. Request was designed to support interactions with a huge selection of payment systems. Users can connect Request with BTC, Ethereum, Monero, and fiat networks with ease.
Benefits of Request (REQ)
Request users gain access to a lot of benefits. For one, the network was built to be simple to use for everyone. The developers went to great lengths to provide users with a seamless way to integrate blockchain invoicing into their business system. Additionally, the protocol provides a developer-friendly interface that helps to improve innovation in the ecosystem.
Request adds to a business's flexibility in many ways. For example, the protocol enables users to send and receive invoices across a variety of popular networks. You can accept payments in Ethereum, ERC-20 tokens, Polygon, Celo, Fantom, and Near to name a few. There are currently over 200,000 ERC-20 tokens in the market. It’s the most popular token type in the world. Enabling companies to easily accept these tokens is a game-changer with real potential to alter the course of the market's development moving forward.
One of the best features of Request is the fact that it offers businesses the opportunity to send compliant invoicing using the decentralized market. Businesses can set up their invoicing requirements to ensure that they meet all their regulatory responsibilities. These terms are then placed into the invoices smart contract.
Businesses that seek to utilize Request to create robust networks also have the benefit of permissioned access. Every Request network can be set up with privacy controls to protect sensitive information. These systems ensure that only those who are approved gain access to vital data. Additionally, the immutable nature of blockchain systems provides firms with more trackability in regard to data tampering.
How Does Request (REQ) Work?
Request operates on the world's largest Dapp network, Ethereum. The system utilizes Ethereum to improve security. As such, Request users interact and invoice each other in a peer-to-peer manner that provides verifiably immutability. Companies can integrate cryptocurrency payments with confidence using Request's proven system.
Users interact with the network via the Request App. Here is where you find everything you need to leverage Request's unique features. You can create and send invoices, track expenses, create a payroll, and monitor all actions in the accounting section.
Request introduces special gateways to enable blockchain interactions. These gateways streamline the core processes including the creation, storage, and accessibility of invoices kept on the distributed ledger. Businesses use advanced APIs to interact with the Request network in a secure way. This approach provides security without reducing the platform's performance capabilities.
One of the core components of the Request protocol is Request Nodes. These Nodes are tasked with a variety of critical responsibilities. For one, they create your payment request. They also store data and batch files to improve network scalability and data accessibility.
Anyone can build on the Request ecosystem. There are a variety of helpful tools and resources to help you along the way. The goal of these features is to help grow the Request ecosystem. In turn, these new Dapps will help fuel usability which results in the REQ token's value increasing.
The WooReq feature is a game-changer. This WooCommerce plug-in provides website builders with an easy-to-integrate crypto payment processing system. WooCommerce is the largest eCommerce system within the WordPress community. It has millions of users globally. As such, WooReq places the Request network directly in the middle of all of this action.
The REQ token operates as the main utility token for the network. REQ is a deflationary ERC-20 token. It enjoys full interoperability within the Ethereum ecosystem. You can use REQ to send value globally. It can also be traded on any ERC-20 compatible DEX like Uniswap.
How to Buy Request (REQ)
Request (REQ) is available on the following exchanges:
Kraken – Founded in 2011, Kraken is one of the most trusted names in the industry with over 9,000,000 users, and over $207 billion in quarterly trading volume.
They offer trading access to over 190 countries including Australia, Canada, Europe, and the USA. (Excluding New York & Washington state).
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. USA Residents are Prohibited.
WazirX – This exchange is part of the Binance Group, which ensures a high standard of quality. It is the best exchange for residents of India.
Request (REQ) Drives Corporate Crypto Adoption
The Request network serves a vital role in the crypto economy. It helps businesses easily join in the decentralized economy and leverage the advantages of blockchain invoicing. As such, you can expect more firms to opt into the Request system as a way to improve efficiency and security without spending millions.
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