[SUMMARY] Fundamental Analysis - Request Network (REQ)

Yesterday I wrote a huge post analyzing Request Network (REQ). For those who don't have time to read it all, I'll provide a short summary. If you're interested in the full post, you can read it here.

Request Network is a decentralized network built on top of Ethereum, which allows anyone, anywhere to request a payment. REQ can be bought on a few exchanges, but most volume is on Binance. Request will be launching some extensions in 2018 which will enable more complex payments to be made. The team consists entirely of staff from MONEYTIS and a few external advisors. It's not clear how the team spends time on MONEYTIS versus Request Network, which is a concern.

Development is encouraged since extensions can be developed in the 'Extension layer' where developers can charge users REQ for the use of these extensions. This also gives REQ value as a cryptocurrency on top of the fact that some REQ must be paid as a fee to use the network.

Request Network faces competition on several levels, within and outside of the crypto space. It relies on developers charging a low fee for the use of extensions to be able to beat companies such as Paypal. To compete with other cryptocurrencies adoption is far more important than transaction costs since most cryptocurrencies these days offer very low or zero transaction costs.

The Verdict: is REQ worth buying?
Aside from the concerns regarding the commitment of the team towards Request Network and the question of whether or not some amount of REQ must always be paid as a network fee, the project seems to be solid. From an investor point of view, it's important that the currency is actually used. If no one uses a currency, you are relying on the so-called 'greater fool' to buy your holdings from you for a higher price. Since REQ is charged when using extensions, the use case for REQ as a currency is clear. In conclusion, I would say that REQ is indeed worth buying.