Review on Request by Robiul Islam
The concept that the Request Network provides and the use cases that it…
The concept that the Request Network provides and the use cases that it proposes to meet are things that are currently needed in the payment industry. This means that the fundamentals of the Request Network are correct, they can provide real value.
The project, as most in the cryptocurrency industry, needs time and patience to progress. At the present moment, it continues to take action and meet milestones while having a significant differentiating aspect of a working product. The lingering question might be, will it continue to build steam in important partnerships, growing a development ecosystem while finding a loyal and growing happy user base? If the project can continue to gain partnerships with prominent players in the accounting space like PwC and potential partners like city halls and governments, they would be well on their way meeting their goals across the board. To put it simply, if the Request Network could put its REQ where its mouth is and deliver on the disruptive solutions that it aims to achieve originally, it has immense potential. The team has the credibility, continues to take action and has the right backing from prominent connectors like Y Combinator to be able to penetrate more markets.
The team acts fast, and if they are able to continuously do so while working with the target market to refine and improve their product as necessary, then they have a chance to make it in a hyper competitive market.
Pros
- The blockchain industry is growing at an exponential rate, mainly due to the security, transparency, and global access that the technology brings to the table. Due to these benefits, while many use cases have been put forth for this sought after technology, its most apparent and primary utilization seems to relate to peer-to-peer transactions that make global payments easier than before. However, it would not be incorrect to state that the current payment-based platforms leave a lot to be desired. The nuances relating to the sector also make it clear that there is a need for an effective solution for this segment. These effective solutions can improve the quality of life for many across the world as the process of sending payments or transferring value is made simpler, secure and faster. Yet, solutions that can help to bring change to the payments processing industry in the present while also designing for the future have significant potential. This potential can bring about much excitement from members of the cryptocurrency community. As the cryptocurrency community is looking for projects that can not only bring about returns but also significant changes and improvements to justify valuations and excitement in the industry. One such project that aims to achieve all of this and more by revolutionizing peer-to-peer payments in this manner is Request Network. In this in-depth review, we are going to go through some of the most pertinent points about the network and then we’ll see if it has the resources to get where it needs to go.
Cons
- The Request Network is also decentralized, which means that during a transaction, no one from the organization holds the payment or funds with them and they are directly transferred to and from the transacting parties. In addition to that, the Request Network provides the record of these transactions through a transparent and comprehensive ledger that leaves little to no room to be tampered with. The security and immutability aspects of Request Network provides it with credibility as a verifiable source of payment confirmation. However, once Ethereum implements zkSNARKS, which is a functionality to enable private transactions, businesses will be able to utilize it in order to keep their private transactions confidential.
