What type of computing allows running functions within virtualized runtime containers in the cloud?

Serverless computing is a cloud computing execution model that allows developers to build and run applications without managing the underlying infrastructure. In this model, applications are broken down into small functions that run in response to events, and these functions execute in ephemeral containers. The cloud provider automatically manages the allocation of resources, scaling, and execution, meaning that developers can focus purely on writing code without the need to provision or maintain servers.

This approach provides significant advantages in terms of scalability, cost efficiency, and resource utilization. Since you only pay for the execution time and resources used when the functions are running, it eliminates the need for managing and maintaining servers, which is a hallmark of serverless architecture.

Other options do involve cloud resources but do not accurately describe the specific nature of running functions in a highly dynamic and abstracted environment like serverless computing.