In this report we will investigate the deficiencies and the achievements of today's Internet. We outline why and how Network Virtualization (NV) can overcome the shortfalls of the current system and how it paves the way for the future Internet. Furthermore, we investigate the performance of a concurrent multipath transmission mechanisms which is implemented using routing overlays and which is facilitated by Network Virtualization. The major building blocks of NV are the a) use of application-specific routing overlays, b) the safe consolidation of resources by OS virtualization on a generic infrastructure, and c) the exploitation of the network diversity for performance enhancements and for new business models, such as the provisioning of intermediates nodes or path oracles. The performance investigation the concurrent multipath transmission reveals that an appropriate engineering of the high capacity pipe is required. This means that the path selection and the dimensioning of its mechanisms has to be done carefully

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