Buy Request Network (REQ)

Request Network (REQ) is a decentralized platform that aims to improve traditional payment and billing systems. The platform provides a protocol to create, manage and process payment requests in a transparent and efficient way. The goal of Request Network is to simplify and secure financial transactions by using blockchain technology.

Traditional payment systems often require intermediaries, which leads to higher fees and longer processing times. In addition, users must share sensitive account information, which poses security risks. Request Network eliminates these intermediaries by providing a decentralized system where payments are made directly between parties, without the need to share sensitive data.

Request Network uses the Ethereum blockchain and Interplanetary File System (IPFS) to ensure data security and ownership. The core of the network is based on a multi-layered architecture consisting of the Request logic layer, transaction layer, data access layer, and storage layer. These layers provide basic functionality, transaction processing, data processing, and persistent storage on the blockchain.

REQ is an ERC-20 token that plays an important role in the Request Network ecosystem. It is used to pay transaction fees, prevent spam on the network, governance, staking, and payout rewards. REQ has a deflationary mechanism that reduces the total supply by burning REQ tokens with every transaction.

Who founded Request Network?

Request Network was founded by Christophe Lassuyt and Etienne Tatur. Both have extensive experience in the crypto and Web3 sector and previously worked together at Moneytis, a platform for global money transfers. Request Network is now managed by the Request Foundation, which is responsible for the maintenance and further development of the protocol.

Here are some of the useful features and applications of Request Network:

• Invoicing and payments: Users can create, send and receive invoices securely and quickly. You can also store receipts and share financial data.
• Payroll and expense management: Request Network enables users to automate and simplify payroll and expense reimbursements. It supports recurring payments and mobile billing.
• Income-based lending: Request Network enables you to take loans or provide credit based on real user data. This opens up new markets in the Web3 space.
• Reputation management: Request Network provides reliable user data for credit assessment and risk assessment. This creates a trustworthy environment for borrowing and lending.

Request Network consists of several layers and components that work together to provide a secure, transparent and efficient payment system.

Request logic layer

In the request logic layer, the payment request is created and added to the blockchain. A user only needs to add the recipient’s wallet address. If the payment request is an invoice, the user can also add terms to the invoice. This layer also manages additional data that can be added to the request, such as taxes and payment terms.

Transaction layer

The transaction layer is where important conversion processes for the transaction are performed. Here, payment requests are stored, both in encrypted and unencrypted form, ensuring that requests are secure and privacy is guaranteed.

Data access layer

The data access layer organizes data in the right format to minimize interaction with the storage layer, and helps to reduce costs and processing time. This layer makes it easy to find and manage data without a lot of resources.

Storage layer

The storage layer uses IPFS and the Ethereum blockchain to store data permanently. This ensures that everyone has access to the data and that it cannot be changed.

Request finance

Request Finance is a web application that helps businesses manage their accounting and compliance. Here they can manage everything from invoices and expenses to contract details and salaries, and it supports payments in both crypto and fiat currencies.

Request Network SDK

The Request Network SDK provides developers with various software packages and tools to create, manage and process payment requests. It is a developer environment that enables the integration of Request financial functionalities into applications.

To use Request, users pay a transaction fee, which are covered by the paying party. The payer can accept the payment request and pay the full fee, but also has the option to reject the request or increase or decrease the amount.

REQ is an ERC-20 token that runs on Ethereum and Polygon and serves as the native cryptocurrency of the Request Network platform. One of its main functions is to pay transaction fees, which helps prevent spam on the network and rewards participants. Users can participate in the network or receive discounts on network services by staking REQ tokens, which also earns them rewards. Additionally, REQ is a governance token, which allows token holders to influence decisions about the direction and future of the network.

The maximum supply is set at 998,877,117 REQ tokens. Request Network has integrated a deflationary mechanism that ensures that a small amount of REQ tokens are burned with each transaction. This reduces the total supply over time, which could potentially increase the value of REQ.

Request Network has a few interesting features that set it apart from other crypto projects:

• Decentralized payment requests: Request offers a decentralized platform for creating and managing payment requests. This makes the system more transparent and secure.
• Push payments: Unlike traditional systems, the payer initiates the payment themselves. This reduces the risk of misuse of sensitive data.
• Interoperability: Request works with multiple blockchains, such as Ethereum, Polygon, Avalanche and Near, and this makes it widely applicable.
• Deflationary: With every transaction, REQ tokens are automatically burned. This gradually reduces the total supply.
• Extensive functionality: With products such as Request Finance and the Request SDK, the platform offers tools for invoicing, accounting and financial management, in crypto and fiat.

To buy Request (REQ), simply head to Bitvavo. Our platform is suitable for both novice and experienced traders. Follow these steps to buy Request Network tokens via our website and app:

1. Log in to your Bitvavo account or create a new account.
2. Add funds to your account by clicking "Deposit".
3. Go to the Request Network (REQ) purchase page.
4. Enter the amount in euros you want to spend or the number of REQ tokens you wish to purchase, and click "Buy".

The price of REQ tokens depends on the current market value. After purchase, your REQ tokens are automatically deposited into your Bitvavo account, where you can easily manage and trade them. Selling Request tokens is just as easy, so you can quickly respond to market changes.

Your Request tokens are stored safely in your Bitvavo account. Bitvavo stores the majority of assets offline in cold storage. We recommend enabling two-factor authentication (2FA) for additional account security.

Most software and hardware wallets support REQ, which makes it possible to manage REQ tokens yourself. After purchase, you can easily transfer the Request coins to an external wallet by linking the wallet address to your Bitvavo account. This gives you full control over your cryptocurrencies.