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Nginx offers a more basic set of functions out of the box compared most web servers. Extra functionality can be added via modules.
Pro Highly efficient memory use
Pro Fast and built for scalability
Nginx is event-driven, asynchronous, non-blocking and single threaded (one master process + worker processes). This allows nginx to be manage resources more efficiently compared to thread-based models (like Apache).
Pro Highly efficient CPU use
Pro Free and open source
Pro Advanced load balancing and caching
Pro Event Based Request Handling
Does not fork/thread per request.
Pro Easily configurable
Configuration files are concise and simple.