/biz/ - Business & Finance

Wikimedia is out, fuck my life. It’s over.

https://lists.wikimedia.org/pipermail/wikimedia-l/2018-May/090360.html

i’m ready

Useless token.

So, there are a number of reasons why having a token is a good thing.

1) Technical independance - this is big, ETH for the foreseeable future will be the blockchain of choice (in my opinion), however in the future another chain might takeover (or provide more value) - if Request then moves change you can keep the same ecosystem because REQ is a seperate token.

2) Governance - One of the major challenges to a decentralised system is decision making. If the Request Network is to survive and flourish, there must be a system for governance. Here the intention is to use the REQ token for voting rights, with plans to create the necessary tools for administration and potentially a chat system.

3 ) The intention is to create a financial ecosystem which is not dependant on monetary policy in other currencies. Request should be as independent as possible from ETH inflation/deflation. In future it is highly likely that miners/stakers will be able to upgrade to Casper. This independence will allow Request to hard fork to a new system with a new technology by keeping the same token holders ecosystem.

People often say 'but why can't you just use ETH for fees' and the above reasons are why

Is REQ even gonna work before LINK mainnet? I have a feeling it's gonna dump until LINK has it's mainnet working. It has partnerships but the token burning mechanism is still slower than expected.