Request

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What is Request ?

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.

Primary features of Request

• The Request Network not only allows P2P transfers amongst people on the blockchain but also supports online payments at the touch of a button.
• The REQ network can create payment invoices in any currency almost instantaneously.
• Users can reinforce privacy in their transactions by refraining from sharing their bank details with anyone for a transfer.

Is Request a promising cryptocurrency?

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.

How to use Request?

• REQ coins can be used on the Request Network to seamlessly transfer payments.
• They can be used as a store of value that could potentially grow in price over the long term.
• REQ coins can be used to transfer value P2P over the blockchain.

Pros & Cons of Request

Pros

• Users don’t have to share bank details with anybody – The network is private because users don’t have to worry about their bank details being misused.
• Ease of use – The system is easy to use because a single tap completes the transaction from the sender.
• Decentralised and truly anonymous – Since the REQ network operates on the blockchain, the transaction details are entirely decentralised and trustless.
• No third-party tracking data – No data leaks because third parties collect no data in the first place.
  Works regardless of location – The Request Network works worldwide without any fee, hassle, or paperwork.

Cons

• The user network is gradually getting adopted and hasn’t become completely error-free yet.
• The Request Network operates with cryptocurrencies – an asset class that still hasn’t been regulated in several countries yet.

Trade Request on CoinSwitch

• You can start trading on the app with only Rs 100.
• Enables immediate cancellation and deposit to bank accounts immediately.
• Trade at null fees on this safest Bitcoin exchange.
• Intuitive and easy user interface.
• Offers easy monitoring to beginners.

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.