In this paper we present a novel shared buffer scheme for network on chip applications. The proposed scheme is based on a dynamically allocated multi queue self-compacting buffer. Two physical channels share the same buffer space. This in turn provides a larger available buffer space per channel. The proposed scheme has similar performance using only sixty three percent of the buffer size that is used in traditional implementation for NoCs. In addition, using same size buffers the proposed scheme outperforms existing approaches by 1 % to 2 % in throughput. The proposed scheme also has a better utilization of the available buffer space
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