Parallel Computing involves the use of multiple processors to complete a given task in order to reduce processing time. It is closely related to distributed computing.
Symmetrical Multiprocessor Architectures (SMP) are fine, but they're expensive and run up against practical limits pretty quickly. The big news now seems to be clustering. Build a 80's vintage supercomputer in your basement!
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Useful Links: MIT Parallel and Distributed Operating Systems Group (PDOS) | ||||||