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what is vps node?

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Well the definition of a node is

A computer that is attached to a network; sometimes called a host.

So a VPS node is basically just a computer attached to a network with a sole purpose of hosting Virtual Private Servers.

Most of the time a vps node consists of a core2quad [or better] processor 4 to 8gb ram and dual harddrives 500gb to 1tb in size connected to a 100mb or 1000mb port intended to host many vm's

Hope this at lest half explains it.
 
Id explain it more like this:

You have a VPS.
This VPS is part of the resources of a Dedicated server, along with other VPSs.
The Dedicated server that hosts several VPSs maybe Part of a cluster or group of Dedicated servers run by that company.
Each Dedicated server that is part of the cluster, is a VPS Node.
 
I'd explain it in simpler terms.

It's a dedicated server configured to host Virtual Private Servers (VPS)
 
There are two kinds of virtualizations: software based and hardware based. In a software based virtualization environment, the virtual machines share the same kernel and actually require the main node's resources. This kind of virtualization normally has many benefits in a web hosting environment because of quota incrementing and decrementing in real time with no need to restart the node. The main examples are Xen,Virtuozzo, HyperVM, Vserver, and OpenVZ which is the core kernel of both Virtuozzo and HyperVM.
http://en.wikipedia.org/wiki/Virtual_private_server
 
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