Protocol Introduction

The PickUp protocol is deployed on the ETH L2 layer network, providing location service-based matching transactions for PeerA and PeerB, and providing encrypted privacy protection for PeerA and PeerB's location information and communication records during the transaction.

The L2 layer network significantly improves the scalability and efficiency of the blockchain by building an additional processing layer on top of the main chain. By deploying the PickUp protocol at the L2 layer, we can not only support the processing of more transactions and reduce delays, but also significantly reduce users’ transaction fees, solving the past problems of high commission collection, unfair distribution of benefits, and lack of real participation in centralized LBS platforms. It allows operators to manage these problems while taking into account the efficiency of the centralized LBS platform.

The L2 layer network, as a network built on the main chain (Layer 1), aims to increase transaction processing speed and scalability while significantly reducing transaction costs. By leveraging L2 technology, we can ensure that any business operations based on LBS are not only fast and efficient, but also run at extremely low cost, which is crucial to reducing transaction fees for service providers and consumers.

In addition, the introduction of the L2 layer network also enables the project to achieve true decentralized governance and benefit sharing. Taking advantage of the high throughput and low latency characteristics of L2, we designed the economic model of the protocol token so that all participants can fairly benefit from the network effects and effectively participate in the governance of the project. This not only solves the problems of unfair distribution of benefits and low governance participation in centralized platforms, but also further promotes the healthy development and long-term prosperity of the community.

To sum up, through the L2 layer network, we can not only solve the problems faced by the existing centralized service platform, but also create a new era of more fair, efficient and sustainable service transactions. In this new ecosystem, every participant can enjoy lower transaction costs, fair distribution of benefits, and a real sense of participation, jointly promoting the future development of the LBS service industry.