A VPS stands for “Virtual Private Server.” As the name suggests, it is a private server, which means, that it will be exclusively yours. Having a VPS service gives you a set amount of resources that you don’t need to share with anyone. It’s kind of like having your very own dedicated or private server, but virtual.
In this case, “virtual” means that it is a partition on a physical server, that is dedicated to you. This virtual server gives you the chance to gain root access, install your preferred OS and work on your project with unparalleled freedom.