REQ is a native utility token of the Request network. Launched in 2017, the Request Network is an Ethereum-based decentralised payments platform where people can transact through secure means. The network connects the sender to the receiver through secure channels. It removes the requirement for a third party to mediate the transaction, making it cheaper and easier to transact.
The Request network works by simply sending a payment request across the blockchain – from one address to another. The money sender could either choose to complete the transaction or decline it in a single tap. The most significant advantage of using the REQ network is that users don’t have to reveal their account information to the other person for the transaction. The use of the blockchain also eliminates any significant transaction costs, which makes high-volume payments efficient and cheap.
Because the entire network is based on Ethereum, the blockchain also has increased security, transparency and data ownership.
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