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Request Network is a decentralized platform for payment requests that is built on top of Ethereum. There are no third parties involved in this project, rather it uses an immutable ledger, and can support virtually any global currency across the world.
It not only allows users to create Request invoices for payment, but also allows recipients to pay in a secure manner. All the data is stored in a decentralized authentic ledger, which allows more secure, cheaper and easier payments. The good part is that the platform is built to be compatible with the IoT, as well.
The current market cap of Request is ₹6,599,981,036 with a trading volume of ₹191,898,647.
Request Network began its trading at a price of ₹3.96 and performed well in the initial week. The REQ coin experienced a slight downfall at the end of the month, but stabilized at ₹3.19 on 29th October, 2017.
In the month of November, the coin traded at ₹2.65 with a market cap of ₹1,59,25,55,275.50. On 9th November, the market experienced a positive variation and the REQ coin did well by pricing at ₹4.80 with a market cap of ₹2,32,24,70,752. During the end of November month, the crypto market experienced an upsurge and the price stabilized at ₹5.15.
In December, REQ token started at a price of ₹4.31, but the market experienced a massive upsurge during the end of the year 2017, with Bitcoin dominating the market. On 31st December, REQ token performed really well in the crypto market and showed its all time high of 2017 by stabilizing at ₹42.22.
After a tremendous performance in December, REQ continued to show the growth in price by trading at ₹57.81 on 1st January with a market cap of ₹25,27,63,73,030. The token reached a threshold of ₹76.74 on 6th January and hovered near ₹32.59 for the rest of the month.
With constant fluctuations in market, the REQ token hovered at ₹27.57 on 1st February with a market cap of ₹17,46,41,08,690. However, the market did not show any signs of positive growth and the price stabilized at ₹20.15 on 28th February, 2018.
Despite of some instability in the crypto market, Request traded at a price of ₹14.64 with a market cap of ₹8,89,43,14,575. However, the rapid rebound in the market continuously affected the cryptocurrencies and so, REQ token stabilized at a low price of ₹11.28 with a market cap of ₹7,14,37,04,540.
Built on top of Ethereum, Request Network is a decentralized network and the future of commerce. This platform creates multiple automation opportunities and creates a financial system that can potentially become the standard for invoices, auditing, accounting and payments for cryptocurrencies.
Prior to building the Request Network, the Request team created a money transfer company, Moneytis, which was backed by Y Combinator (largest accelerators in Silicon Valley). The good part is that Request is not just a “payment processing” platform, but also provides multiple other benefits like identity protection, efficient and automated invoicing, fast and cheap value exchange, smart auditing, cross-currency transactions.
Request platform provides unprecedented transparency and is of a great value to the governments and NGOs.
The prices fluctuate based on local demand and supply.