cloud computing is a synonym for distributed computing over a network and means the ability to run a program on many connected computers at the same time.
The phrase is also more commonly used to refer to network-based services which appear to be provided by real server hardware, which in fact are served up by virtual hardware, simulated by software running on one or more real machines. Such virtual servers do not physically exist and can therefore be moved around and scaled up (or down) on the fly without affecting the end user
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