Incentive Scheme for Shared Parking Space based on NFT

Abstract

The lack of centralized management causes problems in the system of distributed parking spaces, such as unsecured revenues, poor service quality and malicious valuation. Therefore, this paper proposes a parking sharing scheme based on non-fungible tokens. Firstly, we propose the calculation method of parking space renter reputation value, parking space provider reputation value and the reputation incentive algorithm of parking space sharing, which can ensure the service quality of distributed parking space share and prevent malicious evaluation and implement bidirectional constraints on parking space provider and renter. Secondly, we propose a parking space sharing model with non-fungible tokens as sharing credentials to map parking space assets to on-chain assets via non-fungible tokens and introduce timers based on hash time locks. We propose an intelligent parking rental contract based on improved hash lock to guarantee the revenue of parking space providers in a distributed environment. Finally, experiments based on Ethereum show that the scheme can realize shared parking space at a lower cost; the proposed incentive algorithm can effectively prevent parking space providers and renters from misbehaving.