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Recently network virtualization has been pushed forward by its proponents as a long term solution to the gradual ossification problem faced by the existing Internet and proposed to be an integral part of the next-generation networking paradigm. By allowing multiple heterogeneous network architectures to cohabit on a shared physical substrate, network virtualization provides flexibility, promotes diversity, and promises security and increased manageability. However, many technical issues stand in the way toward its successful realization. This paper investigates the past and the state of the art in network virtualization along with the future challenges that must be addressed to realize a viable network virtualization environment.
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