Abstract

Finding a parking spot is becoming a frustrating task, especially during busy hours and with the
increasing number of vehicles on the road. In the existing system, people have to manually drive and
search for any vacant parking spot and if any spot is not available, they end up parking in the wrong
zone. Not only is the time and fuel wasted on this task, but many people also end up paying fines for
parking in no-parking zones. To solve this problem, we have proposed “ParkSpace”, which is a
decentralized web application that connects people who want to rent their parking spot and drivers or car owners who are looking for a safe place to park. The platform provides individuals with a simple and low stress means to generate income from their property. The transaction between the entities will take place using cryptocurrency. Thus, transparency in the system is maintained and accessible to everyone free of cost. The main advantage of the application is that it saves time to find a spot by navigating the user to the nearest location where a spot is available, and all the transactions are stored on the blockchain network.
Keywords: Blockchain, parking, decentralized, Web3, dApp
INTRODUCTION
The process of urbanization has led to a significant challenge for citizens, as parking spaces in cities
are limited. Constructing multi-level parking infrastructures is a possible solution to increase the
number of parked cars in a given space. However, this approach requires a considerable investment in infrastructure and maintenance.

Keyworde: Blockchain, parking, decentralized, Web3, dApp

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