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Understanding **serverless architecture** means exploring a cloud execution model where the cloud provider dynamically manages the server infrastructure, letting developers focus on writing and deploying code without provisioning or managing servers. This approach differs significantly from traditional **dedicated servers** or virtual machines, as resources are only consumed when code is executing, leading to potential cost savings. **Serverless functions**, often triggered by events, are central to this model, allowing for highly scalable and efficient application development without the overhead of continuous server management.