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Q. How much processing power will I have and what is the CPU Speed?

Hardware used inside host nodes will vary. Your VPS will be on CPU that are between 2.0 and 3.0GHz. Every 4 slices has access to 1 CPU core.
1-4 Slices – 1 CPU Core
5-8 Slices – 2 CPU Cores
9-12 Slices – 3 CPU Cores