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Request Network is a decentralized network for payment requests. They are here to serve as a bridge between the physical and digital world. By enabling easy-to-use payment requests on the blockchain, the Request Network Foundation empowers everyone in the world to take full control over their personal finances.
Their belief at the Request NetworkFoundation is that requesting payment in life, in any form, should be trustless, effortless, and automated. Creating and sustaining a platform that empowers every builder to disrupt the way they do business tomorrow is what they aim for, and what they echo to the world.
Payments: The process involved with requesting and receiving a payment (Request Invoice) is relatively simple:
This is a simple example of a peer-to-peer payment but it can be expanded further. Request payments can also be used for online purchases, business-to-business invoices, and eventually IoT payments between machines. The Request Network offers some significant advantages over the current systems. Because payments are push generated (instead of pull), there’s no need to share your bank account information. Also important, the use of blockchain technology means there’s no need for third-party processors which greatly reduce transaction costs.
Auditing & Transparency: Other than payments, the Request Network is also tackling auditing and budget transparency. Businesses have the ability to track invoices to audit payments as well as record transactions for accounting purposes. Governments, nonprofits, and other organizations can also use Request to bring transparency to their budget and expenditures.
Request (REQ) price today is $0.227703 with a 24-hour trading volume of $13,373,501. REQ price is down -5.9% in the last 24 hours. It has a circulating supply of 770 Million REQ coins and a total supply of 1 Billion. At the time of writing this post (Oct 20, 2021), REQ's Return On Investment (ROI) over the past year was 895%, exceeded in 'xDAI Ecosystem, Business Services' categories which had 576% growth over the past year. It underperformed in crypto market which had 13194% growth over the past year.
Projects with public Github account have more transparency and reliability. Regularly, investing in projects with multiple contributors and commits is considered a safer and better investment (this means they are busy working and building the project). According to its Github account, there are Three Contributors to the development of REQ.
Another critical factor in the success of any project is gaining public attention. Our data shows that REQ's Twitter account saw a growth of 10% over the last months in the number of followers, which is considerable. Also, the number of REQ Reddit subscribers increased by 5%. However, the Telegram channel users had a 0% growth over the last months.
Over the last five months, REQ's Market Capitalization rank followed an overall increasing trend, starting at the rank of 447-282 on July-Aug 2021, reaching 320 in Oct 2021. However, by the time of writing this post, REQ's market cap rank is about 323, and its value is $173,546,152 Million. Moreover, its liquidity score is 39% under the market's average score, making it relatively harder to sell in bear markets.
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