Rapid advancements in processor and networking technologies have led to the evolution of cluster and grid computing frameworks. These high-performance computing environments exploit geographically distributed, diverse resources, with the goal to provide efficient computing solutions to all kinds of parallel and distributed applications. The power of such metacomputing frameworks can be fully realized if there are market-based infrastructures that foster the deployment of large-scale grids and clusters for economic benefit. This paper focuses on the OCEAN project, which provides a scalable, computational-market based infrastructure for metacomputing environments. OCEAN envisions a fully automated commodities market for computational resources, with extremely low barriers-toentry. Applications within OCEAN can purchase and utilize remote distributed computational resources on demand, while compensating the providers of these resources via a free-market mechanism
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