Virtual Environment (VE, otherwise also known as Virtual Private Server, or VPS) is one of the main concepts of OpenVZ.
VE is an isolated entity which performs and executes exactly like a stand-alone server. VE can be rebooted independently and have root access, users/groups, IP address(es), memory, processes, files, applications, system libraries and configuration files.
OpenVZ allows to have multiple VEs (up to as many as several hundreds) on a single Hardware Node.
DEFINITION -