Will Request (REQ) coins be issued indefinitely?

Request Network's finite supply of REQ tokens, capped at 1 billion, introduces scarcity that may attract investors seeking deflationary assets.

Dec 24, 2024 at 09:14 pm

Key Points:

• Request (REQ) operates on a "proof-of-work" consensus mechanism.
• A finite supply of REQ exists, with the maximum supply set at 1 billion tokens.
• 20% of the REQUEST tokens were sold during the initial coin offering (ICO).

Content:

Request Network: Introduction

Request Network (REQ) is a decentralized network that aims to simplify and improve the process of requesting payments. The Request Protocol allows users to create and manage payment requests and invoices easily and transparently.

Consensus Mechanism: Proof-of-Work Mining

Like Bitcoin and Ethereum, Request Network operates on a "proof-of-work" (PoW) consensus mechanism. In this system, miners verify transactions by solving complex mathematical puzzles, thereby securing and validating the network.

Finite Supply of REQ Tokens

Unlike most other cryptocurrencies, Request Network has a finite supply of tokens. The maximum supply of REQ is set at 1 billion tokens, meaning that there will never be more than this number of REQ in existence. This scarcity can make REQ attractive to investors looking for a potentially deflationary asset.

Initial Coin Offering (ICO)

In 2017, Request Network held an ICO, offering 20% of the total REQ supply for sale. The ICO raised over 68,000 ETH, equivalent to approximately $20 million at the time.

FAQ:

1. What factors influence the REQ price?

Various factors can affect the price of REQ, including economic conditions, crypto market trends, network adoption, and demand and supply dynamics.

2. How does Request Network handle security?

Request Network uses a combination of cryptographic methods, such as asymmetric encryption, to ensure the security and privacy of transactions and data on its platform.

3. What are the key features of Request Protocol?

Key features include decentralized payment request management, multi-currency support, recurring payments, and dispute resolution mechanisms.

4. What are the advantages of Proof-of-Work mining?

PoW mining provides a robust and decentralized way to secure the Request Network, making it more resistant to malicious actors.

5. What are the disadvantages of Proof-of-Work mining?

PoW mining can be energy-intensive and require specialized hardware, potentially limiting the network's scalability.