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Grid Technology or Grid computing  is a phrase in distributed computing which can have several meanings:<ul><li>A local computer cluster which is like a "grid" because it is composed of multiple nodes. </li><li>Offering online computation or storage as a metered commercial service, known as utility computing, computing on demand, or cloud computing. </li><li>The creation of a "virtual supercomputer" by using spare computing resources within an organization. </li><li>The creation of a "virtual supercomputer" by using a network of geographically dispersed computers. Volunteer Computing, which generally focuses on scientific, mathematical, and academic problems, is the most common application of this technology. </li></ul>Functionally, one can also speak of several types of grids:<ul><li>Computational grids (including CPU Scavenging grids) which focuses primarily on computationally-intensive operations. </li><li>Data grids or the controlled sharing and management of large amounts of distributed data. </li><li>Equipment grids which have a primary piece of equipment e.g. a telescope, and where the surrounding Grid is used to control the equipment remotely and to analyze the data produced. </li></ul>