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What is Istio?
Istio is an open platform for providing a uniform way to integrate microservices, manage traffic flow across microservices, enforce policies and aggregate telemetry data. Istio's control plane provides an abstraction layer over the underlying cluster management platform, such as Kubernetes, Mesos, etc.
What is Knative?
Knative provides a set of middleware components that are essential to build modern, source-centric, and container-based applications that can run anywhere: on premises, in the cloud, or even in a third-party data center