Payments-focused Request Network has revealed a series of updates since their partnerships with Digix last month, including a new roadmap release and a preview of an upcoming crowdfunding application.
Here, we’ll give you a quick run-through of the developments that have occurred in May, and how they fit into the overall scheme of Request’s goals.
The project has already performed a commendable job in hitting their milestones and being transparent about development. Last year, they managed to finish the “Pay with Request” feature ahead of time. What few tasks they could not finish upon the mainnet launch, they quickly addressed soon after.
Despite scoring high as far as development and transparency is concerned, Request continues to raise their standards for accountability.
In their latest blog post, they describe a new approach to completing their objectives — allowing them to be tracked in real-time based on progress, rather than according to deadlines. This will allow investors to keep a constant eye on Request’s progress and shifts in priority. Their use of the term “real-time” is a little liberal, but it is certainly true that the new style will make recognizing priorities easier.
No significant changes have been made to the roadmap. In some cases, objectives have been grouped under more general categories. Milestones included in the previous roadmap but missing in the updated one will be added at a later stage.
Progress is now segregated by “themes,” such as protocol development and app development. These themes have sub-tasks — in the case of protocol development, scaling solutions and data encryption are two sub-tasks.
Completed goals, like the mainnet release and the support for Bitcoin and ERC-20, have been moved to the “Completed” section. As the team completes more objectives, they will continue to shift the completed objectives to this section. This keeps the roadmap clean and readable. It lets users ascertain progress, without having to read through several blog posts or communications on other channels.
You can view the new roadmap on Request’s homepage.
In a great step forward for the project, the Request mainnet now supports both Bitcoin and ERC-20 tokens. The first five ERC-20 tokens are Kyber Network (KNC),OmiseGO (OMG), Request (REQ), Digix (DGX) and Dai (DAI).
The ERC-20 contracts have undergone an internal audit, conducted by Clement Lesaege, the CTO of Kleros. Additionally, the team has launched a bug bounty program with rewards of up to $20,000 for the discovery of critical vulnerabilities. Further details on the bug bounty can be found here.
Request has also been working on a decentralized crowdfunding application integrated with the Request platform. In their blog post dated May 25, they offered a glimpse into what it is, though we have no word on when it might be released.
The dapp, called ”Crowd,” lets campaigners receive crypto-payments continually or within a deadline. It seizes on the most ready advantages of distributed ledger technology, avoiding the involvement of third parties and incurring lower fees.
Further emphasizing the notable openness of the project is the team’s decision to encourage community members to develop their own solutions for the application. The Request Foundation will even provide financial support for shortlisted applications.
To access the dapp, register for Request’s Crowd beta when it launches.
AirSwap is a decentralized trading marketplace that serves Ethereum tokens. Similar to decentralized exchanges, it allows tokens are traded directly between peers. In centralized exchanges, like Coinbase, a user’s funds are held in custody by the exchange, which makes the trade on his or her behalf.
The benefit of a decentralized trading system is that funds are never held by a third party that must be trusted. The fees involved is also lower.
With Request now being tradeable on AirSwap, it gives them presence on a growing trading marketplace.
Documentation relating to Request has been listed on GitBook, and anyone can add or modify information.
While this may seem secondary next to the technical developments of the project, in some sense, it holds just as much importance. Education related to cryptocurrency is still very sparse, and global adoption will only take place when the average user realizes that there is tremendous possibility with cryptocurrency. This is the gap that better documentation and learning resources can fill.
Users will be able to create and distribute their own knowledge concerning the Request Network and the possibilities that accompany it.
Following a string of partnerships with major entities like PwC France, Request has chalked up another solid one, having partnered with stablecoin-focused project MakerDAO. Request has even gone so far as to say that they believe that the future of cryptocurrency payments will be made with stablecoins.
As an option for payment on the Request Network, Maker’s Dai will serve as protection against the high volatility of cryptocurrency prices.
With Request’s inclusion of Digix, which tokenizes real world assets like gold (even allowing payments to be made in tokenized versions of bullion), the team’s focus on creating reliable and comprehensive payments solution becomes ever more clear.
Request Network is a project that scores high when it comes to transparency. The updates are frequent, while their business strategy and development progress is also steady. It is definitely a project to monitor, especially if you’re invested in it.
The stream of updates indicate that the team knows how to go about expanding the use of their platform. This sound logic, combined with their openness, is what makes Request such an interesting project to watch.
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