What is VPS?

I have never been interested until now. What exactly is VPS? I know its something to do with hosting, but what exactly? An explanation would be great.

I don't knew too. I am interested in this thing, so i searched and founded this:Virtual private server (VPS) is a type of web hosting based on the concept of partitions on mainframes and advanced resource scheduling to divide a computer into many virtually isolated servers. It is a server that runs inside another server. Each VDS acts like a dedicated server but shares the same hardware.I hope this will help you.

It gives you the same features of a dedicated server. Except you won't get as much space and bandwidth.

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yup!! terminator is right on that. VPS is also like dedicated server but the thing is that you still share Cpu usage and memory to others.. so beware of overseller..

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VPS hosting is cheaper compared to Dedicated Server. But you need to have some technical knowledge to administer your server. If you are owning a website which requires more bandwidth than what a Shared Hosting offers, VPS might be a best choice.

A virtual private server (VPS, also referred to as Virtual Dedicated Server or VDS) is a method of partitioning a physical server computer into multiple servers such that each has the appearance and capabilities of running on its own dedicated machine. Each virtual server can run its own full-fledged operating system, and each server can be independently rebooted.