Cognitive Radio is emerged as a means of improving the efficiency of current spectrum by utilizing the available unused spectrum. There are many challenges in the systematization of Cognitive Radio Network and the most obvious is to fulfill the awareness requirement. In a network the nodes are must be able to share the spectral information among them which requires inter node communication channel. Medium Access control protocol is suitable for channel sharing and proved that the resulting controlled channel sharing performs better than the traditional sensing based Medium Access algorithms. The projected algorithm for solving this problem has provably tight bounds in terms of the max-min throughput. In order to make less number of reconfigurations in the network, localized version share algorithm is preferred in Cognitive Radio network. Thus helps to combine the centralized algorithm and its localized version able to achieve high fairness and high network throughput with few channel reconfigurations.