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I'm a little new to hosting a database like MongoDB and trying to use the most cost effective, but reliable method.

Is it advisable to install MongoDB database on the same EC2 instance as my Node application? If yes, how?

Also, what are the alternatives?

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Databases are not horizontally scale-able but server-size processing is. Your node.js application can be replicated to handle more requests but a database cannot. So, if you plan to have a lot of load on your node.js server use separate EC2 instance for it so that you can use an elastic load-balancer to scale horizontally on the go and handle higher incoming traffic.

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Any idea about sanctioning EBS volumes to handle database data? I thought my main ec2 instance occupies 8GB of space out of the 30GB on the free tier. I noticed mongodb functions well if I use a RAID type of space sanctioning. So maybe 3 EBS volumes of 7GB each?

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