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VMkernel is a virtualization interface between a Virtual Machine and the ESXi host which stores VMs. It is responsible to allocate all available resources of ESXi host to VMs such as memory, CPU, storage etc.
The VMkernel networking layer provides connectivity to hosts and handles the standard system traffic of vSphere vMotion, IP storage, Fault Tolerance, vSAN, and others. You can also create VMkernel adapters on the source and target vSphere Replication hosts to isolate the replication data traffic.