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Virtualization is the process of creating a software-based, virtual platforms of servers, storages and networks. This is regarded as the most effective way to reduce IT expenses by providing multiple machines at the same time. It also allows sharing a single physical instance of a resource or an application to multiple users. In simple words, Virtualization is a technique, which allows us to share a single physical instance of a resource or an application among multiple users and organizations. It works by assigning a logical name to physical storage and providing a pointer to that physical resource when needed.