OpenStack is an open-source Infrastructure-as-a-Service (IaaS) initiative for building and managing large groups of compute instances in an on-demand, massively scale-out cloud computing environment. The OpenStack project is led by the OpenStack Foundation. Main goal is to support interoperability between cloud services and to provide all of the building blocks required to establish a cloud that represents what a public cloud, such as Amazon AWS, offers you. The difference being, you get the agility and flexibility benefits whilst being able to stand it up behind a corporate firewall.
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