Let me include some additional information here, vps accounts runs on a dedicated server machine and there is no other way to operate it. Either you choose vps hosting or choose low end dedicated server hosting for yourself.
In addition, you can also purchase own dedicated server hardware to set up different VPS account, but you need to collocate that web server into the state of the art data center, which offers redundancy for network uptime, etc...However, it's pretty expensive way, as compared to other options.
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