The Resource agent is the core of the Merkato InvisibleHand's software platform, which dynamically prices, sells, and allocates IP bandwidth in real time. Merkato means "market" in Esperanto. system. In addition to handling reservations for 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., the Resource agent is responsible for:
Informing all bidders of the quantity available
Accepting bids from active bidders
Determining a proposed allocation An amount of bandwidth available for your use. Depending on the type of service being offered through Merkato, this can represent the maximum bandwidth available to you or a minimum guarantee of bandwidth available to you. of bandwidth for each bidder based on progressive second price auction rules
Calculating the 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.
Distributing this information anonymously to all bidders
These actions occur during a single cycle in the bidding process. Bidders who did not receive an allocation, or whose allocation was less than they wanted, can submit another bid to improve their positions. This cycle continues until bidders are satisfied with their allocations or don’t want to bid at the current market price.
When bidding is complete, Merkato does the following: