What is a Request Network? Request Network (REQ) is a decentralized payment system that works in harmony with global currencies. In this article, you can access the answers to frequently asked questions such as what the Request Network is, what it offers, what is REQ coin, how to get it, what is it used for. As Kriptokoin.com, we did the research for you. Let’s examine the project together.
What is Request Network?
Request Network is a decentralized payment system built on the Ethereum Blockchain. The Blockchain project serves in harmony with the currencies used on a global scale. Users can request payment and receive money through the system. The platform uses Proof-of-Stake (PoS) consensus mechanism to ensure its security. This means that users can earn income by staking their assets. The platform also has a native cryptocurrency called REQ coin. REQ is used by users for various purposes within the network.
Request Network complies with each country’s trade laws and regulations to avoid government bans. The project aims to make commercial transactions such as international money transfer, online payment, shopping easier and safer. Inspired by the centralized payment system PayPal, the project was developed to compete with it. In addition to the safe operation of the platform, its operation with minimal costs has attracted the attention of investors. With the growth of the decentralized e-commerce field, the interest in decentralized payment systems working in this field may also increase.
What is REQ coin? What is it used for?
REQ coin is a token that works as the native cryptocurrency of the Request Network. The token, whose maximum supply is limited to 1 billion, was created on the Ethereum Blockchain with the ERC-20 smart contract. There is also a version of the token created on the Polygon network. Listed by many major and trusted cryptocurrency exchanges, the REQ token has various use cases on the payment network. The REQ coin acts as the platform’s governance token. Users holding the token can vote and submit offers to the community by participating in the management of the platform.
REQ coin holders can prevent spam content and emails through their tokens. REQ is a staking token. This means that users can earn additional token rewards on expiry by locking their holdings for a certain maturity. Finally, the platform offers various discounts to REQ holders. Users can profit by taking advantage of these discounts. At the time of writing, REQ coin was the 250th largest cryptocurrency with a market cap of around $221.6 million. In addition, the entire maximum supply of the Request Network token was in circulation.
How to get REQ coin?
Users who want to buy REQ coins must first find a cryptocurrency exchange where the token is listed. Currently, crypto exchanges such as Binance, Coinbase, Huobi Global, Crypto.com, KuCoin, and Bybit list REQ. Investors interested in the Request Network project can purchase the token by subscribing to one of these exchanges and depositing money in their wallets.
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