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What is Request coin (REQ) and how does it work?

by Financial Economy

Request (REQ) Coin is a service token and network launched in 2017, focused on scalability and decentralization. REQ Coin is a project for decentralized payment systems based on the Ethereum network, but it aims to make and receive payments securely. Detailed information about the what is Request coin REQ, how does it work, how to buy it, how much is the REQ price, etc. is in the continuation of the content. For information about DENT coin, you can check here.

What is Request coin (REQ) and how does it work?

Request Coin, the Request utility token, is a cryptocurrency responsible for ensuring the performance and stability of the Request Network. Request (REQ) is a network that allows anyone to easily create, share or fulfill a payment request.

When creating a payment request, the user defines to which address the payment request should be allocated and what is the amount due. Optionally, the user can define the terms and conditions for the payment request, escalating the simple request for payment to an invoice payment.

After the request is created, the user can share this payment/invoice request to make sure it is paid by the other party. All these steps are documented and stored in the Request network. So everyone involved in the transaction can easily track their invoices, receipts and payments for personal accounting purposes.

REQ is an ERC20 token you spend using the Request Network. While not yet confirmed, REQ may use a Proof-of-Stake consensus algorithm. This means that as a REQ holder, you will receive dividends for holding the token. Other purposes of the REQ token include mediating cross-currency exchange and establishing governance in community voting.

Where to buy Request? How much is the REQ coin price?

Request coin can be purchased from cryptocurrency exchanges where it is listed. But before trading, it should be ensured that the stock market is “reliable”. As of August 20, 2021, the price of 1 REQ is around $0.38.

Caution: The information contained in this content is for informational purposes only. It is not investment advice.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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