Request Coin is a crypto token created by the Request Network which is an open network that allows anyone to create, store and access invoices and receipts in a decentralised network. This is another Ethereum-based network in the world of blockchain that uses smart contracts as the consensus method.
The REQ token has been created to be used within the REQ network. This network is used heavily as an invocing and payments platform form large businesses. REQ network charges commissions for special kinds of invoicing processes and these commissions and fees are charged as REQ coins. They currently charge commissions at a rate anywhere between .05% and 5% but they have pledged to reduce these rates as their system grows.
A part of the REQ fees is burned at a rate which is determined by the current supply and the exchange rate with the other currencies on the platform.
There are rumors that a proof-of-stake mechanism will be used by this coin in the future which will enable REQ holders to stake and earn interest from their holdings.
At the time of writing, REQ is the 104th biggest cryptocurrency with its market cap of $952.19 Million. It is very easily accessible as it is available on all of the main cryptocurrency platforms including Binance, Coinbase and crypto.com.
The REQ token was first released in late 2017 and after an intial hike, the REQ price stayed relatively stable from mid 2018 to late 2021 within the $0.013- $0.02 range.
In November 2021 The Request Network has released their new app on Web3 invocing, payroll and payment management. This launch as made a huge effect on the REQ token’s price as it skyrocketed to almost $1 translating into a whooping 400% increase merely 10 hours after the announcement of the new app.
The sudden price hike is expected to even out in the last days of 2021 and the early days of 2022, however, the REQ network’s new announcements will surely affect the price fluctuations. They have so far established themselves as leading payments providers to many big corporations and whether they will follow through with the developments in the Web3 will be the defining factor for their 2022 prices.
Haley Hayward is an experienced writer at gblogo.com, where she’s credited with more than 200 articles covering everything from entrepreneurial stories to mental health at work.
She also oversees the Comment&Questions, which poses important admission questions to experts in the field, and regularly hosts webinars on various aspects of the business school experience.
Prior to joining gblogo.com, Haley honed her skills as a freelance writer, tackling a wide array of topics from petcare to car maintenance.
Haley holds a Master’s degree in English Literature from the University of Edinburgh, Scotland.
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