There is a vast literature on this subject. The wikipedia article on "atomic clocks" is useful and has many links to other sources.
Thank you for providing your response. I am aware of clocks of that nature being built. I am looking for the more basic physics behind the concept of "clock" and the theoretical physics behind the measurement of time. For example we have gravitons to explain Gravity in that model. What do we have to explain time, clocks you see?
'Time' is purely a referential concept, hence its measurement becomes completely subjective. If you search over iop.org, you will find papers where time is measured by using electron spins.
You could explore physics of linear time in Newtonian Physics and non-linear in Quantum Mechanics, especially Quantum Electrodynamics.
Time is a non observable, so I'm not sure I quite understand the question? If you'd care to elaborate ?
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