The goal of The Project is to provide a base-level project for folks with technical aptitude who want to start diving into systems administration.
The instructions here are purposefully vague and only provided from a high-level overview. The goal is to work through the project and learn about commonly used technologies
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Get a VM from a cloud provider. DigitalOcean, Amazon Lightsail, Hostgator, Godaddy, wherever. The goal here is that you must have SSH access to the box.
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Purchase a domain name. You can use whatever provide you like: domains.google, namecheap.com, cloudflare.com. Again, it doesn't matter where you get the domain name.