Request

What is Request Network (REQ)?

The Request Network (REQ) is an open-source blockchain-based decentralized payment protocol designed for digital invoicing, payment processing, and financial automation. Based on the Ethereum blockchain, the Request Network removes intermediaries to lower costs and improve security when recording payment transactions. The REQ token which is issued by the Request network facilitates transactions, governance, and staking.

Founded by Christophe Lassuyt and Etienne Tatur in 2017, the Request Network aims to improve the efficiency of traditional invoicing and payment systems by recording payment requests on a blockchain to allow for secure and transparent payment request systems. In addition, the Request Network records all transactions to a blockchain ledger meaning that it is not possible to modify the transaction record after it has been initiated. 

Key Features

• Decentralization and Privacy: The Request Network utilizes Ethereum and IPFS (InterPlanetary File System) for secure access to data.
• Push-Payment Model: The Request Protocol prevents unauthorized withdrawals. Governance and Staking: REQ holders can vote on decisions and stake their REQ tokens on Bancor.
• Multi-Chain Support: Users of the Request Network can conduct cross-chain transactions, as well as migrate on and off any blockchain.
• Deflationary Model: The Request protocol has the ability to direct transaction fees to Ethereum smart contracts which may influence the total supply of tokens in circulation.
• Regulatory Requirements: The Request Network is able to work with laws governing trade as pertains to international financial reporting.