Request Token

Request Token (REQ) is a utility token that powers the Request Network, a decentralized payment system built on the Ethereum blockchain. Launched in 2017, this innovative platform allows users to request and receive payments securely, eliminating the need for intermediaries. By using the Request Network, individuals and businesses can engage in cost-effective transactions with global currency compatibility. When users initiate a payment request, they specify the recipient's address and the payment amount. They can also outline specific terms and conditions, effectively transforming a simple request into a comprehensive invoice. This flexibility allows for seamless sharing of payment requests between parties, streamlining the transaction process. The Request Network ensures transparency by documenting every transaction on the blockchain. This feature enables all participants to track invoices and payments, facilitating efficient accounting practices. Additionally, the platform is designed to comply with international trade laws, making it a reliable choice for users across various jurisdictions. One of the unique advantages of the Request Network is its push-generated payment model. This means that recipients can pay directly via an invoice without needing to share sensitive account information. Utilizing blockchain technology, the platform enhances security and reduces transaction costs by removing third-party payment processors. REQ is an ERC-20 token utilized within the Request Network, with a current circulating supply of nearly 1 billion tokens. Transaction fees incurred on the network are partially burned to manage supply and maintain value. The Request Network's security is reinforced through immutability, with all transactions recorded on a digital ledger that serves as proof for auditing purposes.