Real resoruces of the host Platform are shared among the guest system VMs. VMM (VM Monitor) manage the allocaiton, access to the hardware resources.
native VM - VMM runs in privilege mode, guest system (OS) runs in user mode. The privilege level of the guest IS is emulated by VMM.
Hosted VM - VMM run in user mode above a hosted OS. VMM uses services provided by the host OS to control and manmage resources desired by each of the VMs.
Dual-mode BVM - For efficiency reasons, it is desirable to have at least part of the VMM work in privilege mode. It is done via extending the host OS using standard interface such as kernel extension of device driver.
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