Request-Network aims to defeat Paypal

I think there is a misconception that the Request-Network blockchain is just a simple payment request application (probably its name?). A Paypal 2.0. But the request goes far beyond this. This is a payment platform. Other decentralized applications can be developed with it to achieve the possibilities that the requesting team can't imagine. This is no different from Ethereum, a platform that supports the new decentralized Internet. A request is a platform that enables a new decentralized accounting system.

The fact that Request is a platform and not a DApp is one of the main reasons I am interested in. The Request Platform platform is innovative. While there are other projects that try to be a simple decentralized payment application, Request goes beyond this particular use case. In addition, as blockchains begin to develop and disrupt our existing industries, new use cases and new companies are likely to develop better products than existing distributed applications. The platform can coexist with unforeseen. They have not competed with all innovations and revolutionary developments. They enable it. This is the difference between Pets.com and the Microsoft operating system.

TDLR：The fact that Request network is a platform rather than a simple DApp gives them greater potential.

The request enables the seller to issue a payment invoice as part of the universal payment system. Anyone can make a payment request on the request ledger. Wallets and other applications will detect payment requests and provide payment options to users.

For example, suppose I still need a pair of skis. This is the winter in Alaska. I went to eBay and found a pair of evil skis called TheSki'sTHELimit. I sent him a message, he opened a request on request, I received a notification on the phone. I clicked the button, hey, the snowboard is mine. No need to use paid services such as PayPal, no need to provide him with any personal information, no need to use a credit card. If TheSki'sTHELimit wants to update his financial account, it will be automatically updated as long as his accounting software is compatible with Request.

Amazon will benefit from using the system because they can save a lot of money - including accounting and auditing fees - as well as not paying for credit card transactions.

Imagine you agree to pay the rent. If you do not pay on time, your landlord will charge a 10% late fee penalty. However, you don't want to change your budget for a large number of out of your bank account, so you can use the extension layer to automatically pay for daily small segments. Taxes are deducted from these payments and transferred to the right parties. But the money is also hosted and will only be released when your landlord transfers the appropriate money to the power company. You can also pay your deposit to a host to provide security for you and your landlord. All of this can be done on the requesting network.

This layer fee is paid by REQ. The more extensions you use, the higher the cost. However, these costs are low - ranging from 0.05% to 0.5%, depending on the many applications used. Anyone who creates a new extension can charge a fee. This encourages people to develop other applications.

Application layer: This layer occurs outside the blockchain and is connected to the Request to access information or create requests. In fact, any financial service can be associated with a request, including accounting, auditing, and taxation. The API will be developed to make it easier.

Imagine you have a small business with all payments and invoices in the request. Quickbooks may be compatible with Request. With the push of a button, you can integrate all your data into Quickbooks.

This layer contains a reputation system that is improved or reduced due to network behavior such as payment timeliness. Think of it as feedback from eBay, except that it is automatically updated by the network. This way everyone can see the overdue date of all of the company's contracts and add another consequence in addition to the delayed charges. I am unlikely to work with people I see who have never paid their invoices on time.

All of these layers together form the Request network.

TLDR: A gateway like the Kyber Network works in conjunction with three request layers (cores, extensions, and applications) to enable the requesting network to deliver larger applications and then pay only for pizza in the Ethernet.

The characteristics of The Request-Network are obvious. It has the concept of solving many payment-level problems and creating a safer, faster and more convenient payment platform. As of current, Request-Network worth $0.034, holding $24,995,254 Request-Network market cap.