In a time where every other day there’s new emerging companies fighting for their slice of the pie in the new crypto markets, it’s hard to gauge what actually has potential, and what is just a cool concept that’ll never come to fruition. I’ve been hodling REQ for a few months and all though it’s had stagnant movement on the charts, I can’t help but to keep a close eye on the price. We’ve been teetering between $.20-.25 and I can just tell it’s getting ready to break out and rise.
What is Request Network?
REQ is a decentralized network built on top of Ethereum, which allows anyone, anywhere to request a payment.
REQ tokens are ERC20 tokens which are necessary to participate in the network, create advanced Requests and reward various parties who will help build the request ecosystem.
When using the network, the participants will need to pay a network fee in REQ which will be burned. Burning the tokens could potentially increase the demand on the remaining REQ tokens.
What is the purpose of the Token Burn?
Think of REQ tokens like Gas for the Etheruem network. For each action that is conducted on the Ethereum Platform, gas is used for the fee’s. This helps to keep the platform remain stable and prevent congestion. The same can be said for Request Network. “The Request Network requires the burning of tokens as part of the verification that a transaction has occurred.”
The token burn will also adjust overtime and also reduce the circulating supply of tokens over time, making this very lucrative to early investors.
Request is the Paypal of the future and since it’s operating with the Ethereum network, real life use can be applied today. Many companies promise the moon with concepts that will need 3-5 steps to be completed first before the technology is functional. REQ is already good to go, not only offering users to request payments, but also handling stickier situations like escrow, refunds, crowd funding, and more.
The Exciting Part…
Speaking of applicable use that’s ready to go today, there is A LOT of anticipation and action going on over at Request Network in just the next few months. Holders have been patiently waiting for the next big step, which Request has kindly shared with constant road map updates.
“First of all, we’re more than happy to announce that Request Colossus is about to be ready anytime now. We will release the first version of Request working with Ethereum on testnet within the next two weeks, before the next project update.” – REQ Team on the Dec 8 Roadmap update.
Colossus is the first deliverable of the Request Network. Prior to Colossus, there has not been a release. This release will seperate Request from other hyped ico’s with no product. This will also give developers access to the Request API’s allowing them to build decentralized applications on top of the platform.
The official timeframe on Colussus’s release is, any day now, most likely before Q4 2017 is over.
The end of the year is look exciting for REQ but the beginning of next year is when all the action starts happening.
The Great Wall Q1 2018
The Request Network is way ahead of schedule and it’s appearing as if their benchmarks for early 2018 will be met with out much issue.
A few major partnerships will definitely make this
Not to mention they’re already have strong backings from Quantstamp, Moneytis, and the ever-so-amazing Y Combinator (incubator for Coinbase, Dropbox, Stripe, AirBnB, Instacart…etc..basically, they mean BUSINESS). Many are speculating that Y Combinators close ties with Coinbase can only mean good things for REQ.
REQ is going places and still sitting around $.25 for now. The easiest place to acquire REQ is Binance. Get in where you fit in.