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What Is Request?

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Nov 24, 2022
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5 min read
what-is-request

This blog post will cover:

  • About Request (REQ)
  • Where did Request (REQ) come from?
  • What are the advantages of Request (REQ)?
  • What are the disadvantages of Request (REQ)?
  • How to buy Request (REQ)?

About Request (REQ)

Request is a decentralized payment mechanism based on Ethereum. According to the website, anybody has an opportunity to request a payment and get money securely. There is no need for intermediaries anymore. Users get an affordable and safe payment solution working with most popular assets including ETH, MATIC, GNO, NEAR and much more.    

REQ appears to be a utility token helping the Request Network to perform steadily.

Where did Request (REQ) come from?

A few developers — Etienne Tatur, Christophe Lassuyt, Vincent Rolland, Julien Devoir, Laura Girod and Elliott Denis — have decided to make a worldwide transfer system in 2014. They have created a couple of platforms such as destinesia, theblockchainnetwork, neomy and moneytis. But these were just the transit points before launching the Request in 2017 with the strong goal of building the future of finance in the new decentralized economy.

Now, Request is a really decentralized protocol anyone can join and contribute to. 

What are the advantages of Request (REQ)?

  • Simple
    
    The interaction with blockchain has become easier, there’s no need to run various contracts, particular libraries, and gas. 
  • Confidential
    
    Request provides privacy and GDPR compliance. Information is encrypted and protected via the elliptic-curve encryption.
  • Scalable
    
    With each fresh update, Request can deal with more TPS. That's become possible due to the bulk of the data being saved on IPFS instead of the blockchain. 
  • Secure
    
    Request is built on the base of Ethereum which has faced many tests of security for the years it’s been operating. Also, information is kept on every node, so it just can’t vanish at once. 

What are the disadvantages of Request (REQ)?

  • Low popularity level
    
    Considering the time Request is on the market, it’s quite strange that it’s not as well-known as it could actually be. However, this is easy to fix with the well-thought-out marketing strategy and a loyal community which Request has.  

How to buy Request (REQ)?

Decided to buy REQ? Go to the SimpleSwap homepage. Read the instructions to purchase tokens:

  • For example, you want to swap BTC for REQ. Select the currency you want to exchange (BTC) in the first drop-down list. Enter the quantity you want to swap.
  • Select REQ in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. REQ will be sent to this address. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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