A Market Oriented Grid Model based on contract management

With the rapid development and wide application of information technologies, computing has being transformed to a model in which services are commoditized and delivered in a manner similar to traditional utilities such as water, electricity, gas, and telephony. Compared with recently focused Cloud Computing, Market Oriented Computing still has its own peculiar applied demand and applied environment. A Market Oriented Grid Model (MOGM) based on contract management is proposed in this paper. Here MOGM is constructed and managed as a market where users trade resources as needed. GMACD (a Grid Market Architecture based on Contract management and third-party Depository service) proposed by us acts the market manager in MOGM, serves all users by building virtual markets, formulating trade rules, managing and motoring the market operations. Contract management mechanism and Third-party payment mechanism are two highlights in the design of MOGM. The contracts attributions, operations, and states involved in the former as well as the funds variety and funds flow involved in the latter are discussed in detail. The contract state transitions and the triggering events are modeled based on Petri-Net. These mechanisms place all transactions under the management of contract specifications, and help keeping the whole market in benign operation.