Elastic time slice scheduler in virtualized system

Virtualization is a key technology in the modern data centers as well as in the cloud computing industry. Modern virtual machine monitors (VMM) like KVM and Xen play a key role in the management and maintenance of virtual machines (VM). However, as a software middle layer, VMM brings in a negative impact in terms of VM's performance, among which the I/O events latency problem is one of the biggest issue.