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Service-Oriented Computing has recently received a lot of attention from both academia and industry. However, current service-oriented solutions are often not as dynamic and adaptable as intended because the publish-find-bind-execute cycle of the Service-Oriented Architecture triangle is not entirely realized. In this paper, we highlight some issues of current web service technologies, with a special emphasis on service metadata, Quality of Service, service querying, dynamic binding, and service mediation. Then, we present the Vienna Runtime Environment for Service-Oriented Computing (VRESCo) that addresses these issues. We give a detailed description of the different aspects by focusing on service querying and service mediation. Finally, we present a performance evaluation of the different components, together with an end-to-end evaluation to show the applicability and usefulness of our system.