Virtualization gives the illusion of owning a platform and being able to run apps on top of this without actually being given the physical platform which can result in cheaper costs.
Virtualization is extensibility applied at an entire OS level

A platform is an OS running on top of some hardware. Virtualization allows running of a real platform at a fraction of the cost
Instead of acquiring resources individually, companies can share hardware resources through cloud providers which scale with their usage.
This reduces costs and also allows each individual company to anticipate sudden spikes in resource demands since collectively, the amount of usage is almost consistent.
Sharing hardware resources across several different user communities allows cost of ownership and maintenance of the shared resources cheaper


Native hypervisors run directly on top of the shared hardware and interferes minimally with the guest OS operations. It also offers the best performance for the guest OS
<aside> 📌 SUMMARY: Platform virtualization allows Guest OS to run on top of some shared hardware. In this way, the Guest OS are able to access much larger resources if needed, and the cumulative usage across would be fairly consistent. Two types of hypervisors exist - Bare Metal, which runs directly on top of the shared hardware, and Hosted, where the hypervisor runs on top of a Host OS. Two types of virtualizations also exist - Full-Virtualization, where the Guest OS run with unchanged binaries, and Para-Virtualization, where some part of the Guest OS (<2%) is modified to allow for optimizations
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