Your Merkato InvisibleHand's software platform, which dynamically prices, sells, and allocates IP bandwidth in real time. Merkato means "market" in Esperanto. administrator must configure the maximum bandwidth The amount of data transmitted or received per unit of time. When we refer to acquiring or selling bandwidth, we mean the amount of information that can be sent over a connection at one time, at the allowed speed, without packet loss or excessive delay. Bandwidth is measured in bits-per-second.capacity In the Merkato interface, the term capacity refers to the total amount of bandwidth available from the Seller. for a link in the NSC (Network Service Controller). The administrator can then divide that bandwidth among one or more Merkato markets, or keep it on unused until demand in a market increases.
You can divide a single link among any number of Spot or Reservation markets. In general, the only reason to create multiple markets of the same type (for example, multiple spot markets) is when there is some feature that distinguishes bandwidth in each market, and this feature affects the value buyers place on that bandwidth. In general, it is best to have as many buyers as possible in a single market to create a more competitive environment.
For each reservation market The Merkato market mechanism by which a specified quantity of bandwidth, for a specific duration, is sold for a firm price specified by the seller and agreed to by the buyer. This is an automated process based on a rate sheet that the seller establishes in advance., you must enter the total capacity available into the NSC and the capacity currently available into the Resource The bandwidth service that is offered through a single Merkato marketplace. It will have service attributes, an available quantity earmarked for it by the NSP, and a market mechanism for distributing bandwidth (either the spot market or reservation market).agent The program that interacts with the rest of Merkato on behalf of buyers and sellers. Buyers can acquire bandwidth by configuring their agents to offer the price they are willing to pay for a range of available quantity, or use their agent to request a quote for a fixed-price bandwidth reservation. Sellers configure their agents with a quantity of bandwidth for sale and a minimum price they are willing to accept for that quantity.. (The capacity currently available must be less-than or equal to total capacity.)
The Merkato administrator sets these values and can increase or decrease them as desired. Of course, the administrator should never reduce the capacity below the amount currently under contract (and in use) by buyers.
The Spot market The Merkato mechanism by which bandwidth is traded, in a progressive second price auction. An optimal fair market price The price for something that buyers and sellers agree on. Merkato establishes a market price for bandwidth during each spot market auction round. There is a fixed amount for sale, so as demand increases, prices rise. The market price is reached when the cumulative demand of all the buyers is exactly equal to the amount of bandwidth being offered by the seller. is established and bandwidth is allocated to buyers, based on their bids relative to other buyers. has multiple ways to control total capacity. The maximum is set at both the NSC and the Resource agent. The “current” capacity is controlled on-demand by sellers via their agents. Changes take effect at the beginning of the next auction round.