KVM provides virtualization capabilities using the Linux kernel. It supports full virtualization of x86, PowerPC, s390 and IA-64 architectures using hardware extensions like Intel-VTx and AMD-V. KVM leverages existing Linux components like the scheduler and uses the Linux security model. Guests are scheduled as regular processes. Paravirtualization is used to improve performance through virtio drivers and paravirt_ops. KVM development is ongoing with goals of supporting more hardware features, improving scalability and integrating with management tools like libvirt.