Request Network gone wild - London Letter's insanely good research of REQ
londonletter.org/request-network/
londonletter.orgPosted May 2, 2018, 9:47 PM UTC
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londonletter.orgReally solid and insightful article. I am sure that this will attract some new community members
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Very well-written. It was able to materialize some of the huge benefits of Req which I sometimes have trouble explaining to others.
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Solid in depth article. Posts like this are so much better than the moon meme posts that are normally seen on crypto subreddits. Thanks for sharing
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Solid article... the China portion goes a bit off topic, but still solid article nonetheless. I like the “deflation” aspect of the burning, but is that really necessary? Wouldn’t it be better to just keep prices standard?
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The fees decrease as volume increases to compete with future rivals. So basically, it becomes more challenging over time for another team to create a project with fees low enough to compete with Request and fund development.
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Token burning is not necessary at all AFAIK. But it would have been harder to convince ICO "investors" to fork over the money without.
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It is necessary, the tokens used for fees must go somewhere right? The project is a decentralised network created by a non-profit, so there were really two main options: token burning or redistribution of fees.
For a variety of reasons they went with token burning, though there are arguments for both sides. I prefer token burning, but own assets which have payouts too. Redistributing fees is more expensive since there would be many transactions fees, with token burning there is just the fee when the contract is called.
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Good read!!
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Indeed, a good reference to anyone interested in the technology. Great to see that REQ is gaining traction from all sides.
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The bear market like the one we’ve experienced in the last few months is the perfect time to plant your seeds which will flourish during the bull phase.
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This article spent far too long just summarising the Netflix documentary "The China Hustle" just to say 'Request would have helped with that'. Which it probably wouldn't have, because people don't use auditing platforms when they're deliberately committing fraud.
But despite that part, this is the best analysis of the Request Network protocol I've seen so far. Especially as it really looks deeply at the latest WooCommerce implementation and its possibilities.
Imo having a triple-entry practice in place as a norm might actually make it a few orders of magnitude harder for any firm, regardless of the jurisdiction they operate in, to fabricate or omit critical financial information. If there was a third source of immutable accounting records available for reference, those Chinese firms would not have been able to get past the PWC audits in the first place. This means no matter how hard the Wallstreet firms were trying, much fewer sketchy companies would have been able to get listed. Although at this point whether it would've helped is just your claims against mine, both unfalsifiable until actually tried.
My thoughts exactly