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How has virtualization evolved beyond desktops and servers?

Virtualization has evolved beyond desktops and servers by also being able to virtualize networks, storage, data devices, and applications

In the context of the Amazon IaaS Cloud Service Model, what does EC2 stand for?

EC2 stands for Elastic Compute Cloud

What types of storage does EC2 use, and how is EC2 web traffic managed?

The types of storage the the EC2 uses is called ephemeral (temporary) and Elastic block storage. and EC2 web traffic is managed by CloudWatch.

What are the benefits of service-oriented architecture for customers of EC2 virtualized services?

The benefits of service-oriented architecture for customers is that it allows Amazon to provide a variety of virtual machines of any kind and size.

Analyze how cloud virtualization can promote equitable access to technology resources across diverse populations. How can this technology bridge cultural gaps and empower underserved communities?

It allows third world countries to have access to a computer and access to the internet and allows them to accomplish projects that would most likely wouldn't be achievable without the access to the resources.

Source: Importance of Virtualization in the Amazon EC2 Cloud

Things I would like to know more about

Virtualization has been an interest of mine and I am curious has to how far it will go and how efficient it will become.