According to Webopedia, "Web Hosting is the business of providing server space, Web services and file maintenance for Web sites controlled by individuals or companies that do not have their own Web servers."
A server is a computer or computer program that manages access to a centralized resource or service in a network.
The pages and files of a website are stored in a server. A website, to go "live" and become accessible to a user, needs a server. The server is connected to the internet all the time and when users request for a website, the server processes the request, delivers the data to the user's computer and connects the user to the site requested.
There are different ways of setting up a Web Hosting business. Some buy and sell websites and include a web hosting service with the package. Others offer free web hosting like Word Press.
Wikipedia defines Reseller Hosting as, "A form of web hosting wherein the account owner has the ability to use his/her allotted hard drive space and bandwidth to host websites on behalf of third parties. The reseller purchases the host's services wholesale and then sells them to customers, possibly for a profit. A certain portion of hard drive and bandwidth is allocated to the reseller account. The reseller may rent a dedicated server from a hosting company, or resell shared hosting services. In the latter case, the reseller is simply given the permission to sell a certain amount of disk space and bandwidth to his own customers without renting a server from a web hosting company he signed for a reseller account with."
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