Request (REQ)

 Request (REQ) is a utility token that powers the Request Network, an open-source protocol designed to facilitate decentralized payments. Launched in 2017, Request Network operates on the Ethereum blockchain and enables users to request payments and receive funds securely without the need for intermediaries. This eliminates the requirement for third parties and provides a cheaper and more secure payment solution that supports all global currencies.

The Request Network allows users to create payment requests specifying the recipient's address, amount, and terms, effectively turning simple requests into invoices. These requests are then shared with the counterparty, who can easily fulfill the payment in a peer-to-peer manner. Every step of the process is recorded and stored on the Request Network, facilitating easy tracking of invoices and payments for accounting purposes.

Christophe Lassuyt and Etienne Tatur are among the individuals associated with the founding and development of Request Network. Lassuyt serves as the main community manager, while Tatur acts as the chief technical officer. Both have extensive experience in the crypto and web3 industries, with Lassuyt being a Y Combinator alumnus and Tatur participating in Y Combinator Winter 2017.

One of Request Network's key advantages is its push-generated payment system, which eliminates the need for users to share sensitive account information. By leveraging blockchain technology, Request Network reduces transaction costs by eliminating the need for third-party processors.

Moreover, Request Network's open-source protocol allows for the development of a suite of financial tools that work seamlessly together. This collaborative ecosystem contrasts with the siloed nature of the traditional web2 industry, enabling apps to interact and provide enhanced functionality for users.

The platform leverages decentralized blockchains like Ethereum and IPFS to ensure security, privacy, and data ownership for users. Transaction fees are incurred for broadcasting changes to the blockchain network, incentivizing miners to reach consensus on the network's state.

REQ tokens can be stored in various wallets, including Metamask, MyEtherWallet, Ledger, and Trust Wallet, providing users with flexibility and accessibility.