Presentation and definition of the crypto-currency Request Network (REQ)
- Name of the crypto-currency : Request Network
- Abbreviation of the name : (REQ)
- Where to buy Request ? Binance
- Creation Date : October 2017
- White paper Request Network
- Web Site Request Network
Request Network, presentation
Request Network is a platform for decentralized, which runs on the blockchain Ethereum. The network enables transactions without any intermediary, peer-to-peer, as opposed to a payment system classic that requires the intervention of a bank. Request Network is a payment solution that is comprehensive and allows one to not only make payments but also to perform billing and accounting. The protocol has been designed to be accessible to trade online traditional BtoB and BtoC.
The payment request is done via the Blockchain. Thus, the transaction costs are lower, given that there is no intermediary who charges a percentage fee on the transaction. The transaction also has the advantage of being totally secure. In fact, it is not necessary to share personal financial information.
The operation of the Request Network
The network Request is composed of three levels :
- The Core Layer, which corresponds to the blockchain and smart contracts.
- The Extensions layer, which represents the part where the developers may implement modules.
- The applications layer, which serves to connect and link the systems to Request Network
On the platform, the participants receive remuneration for the services provided. A developer that will propose a new extension on Request Network receives therefore a percentage of the expenses.
The tokens REQ
The tokens in circulation on the Request Network are the REQ. The emission limit of REQ is set to 1 billion units. 1 Ether represents 5000 tokens REQ.