Determining the street on which a vehicle is traveling using OSM data?

Good day, I am fairly new to OSM. I am developing an application which requires the street name and location on which a vehicle is traveling to be recorded. No navigation is required, just updated information on current location. I understand how node and way information is stored and would like some pointers on how to determine the on which a vehicle is traveling. Additionally XML data does not really render itself to an application of this type - any pointers on how best to store the data?

Have a look at open-source-apps like NaviPOWM, Gosmore, GPSMid, Traveling Salesman (java)

More apps may be found in the osm-wiki …