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LXC is in between a VM and a pure application container. It will take up more resources than a pure container, but unlike a VM use as much memory as needed. It will provide a full kernel and OS (albeit it must be Linux). Unlike a VM, LXC container will have access to the resources and speed of the hardware without needing to emulate hardware. 

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Some additional benefits,

And for those who are debating Docker versus LXC, they are similar but do have distinguishing use cases

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