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XCP has, in a very short time, become one of the preferred hypervisors in the CloudStack community, and for good reason. XCP has a number of features that eclipse even some of the paid editions of XenServer, and all with no annual need to reacquire even the free license code.
The XCP project recently announced the release of version 1.1, which has continued to generate a lot of interest and questions about when CloudStack will support it. To keep pace with the rapid development cycle of XCP, CloudStack recently merged in code to support XCP 1.1 and that should appear in the next release of CloudStack. Of course, if you want to play with it today, you can always build from source.
The potential for XCP (and the sister Project Kronos which releases XAPI, or the Xen API, as a package that can be included in Linux Distributions) is exciting, and I hope to see XCP and Project Kronos drive a lot of the innovation around Xen and open source virtualization in the coming months.
David Nalley is currently employed by Citrix as the Community Manager for the CloudStack project. In addition he's a long time contributor to the Fedora Project, where among other things he is currently serving on the Fedora Project Board. He's also contributed to in various forms to Cobbler, Zenoss, Opengroupware.org, OLPC Math4, and Sahana. He is a frequent speaker at Free Software conferences around the nation, and writes for a number of technical and open source media publications including Linux Pro Magazine and OpenSource.com