Virtualization is rapidly growing in popularity on both client and server systems. The extension of trusted computing to virtualization is a logical next step for TCG and trusted computing in general. From the perspective of a virtual machine, it runs in a virtualized environment identically to the way it runs if it was running natively on a physical platform. The Virtual Machine’s software and trust properties should be identical in both environments. From the perspective of trusted computing software, this means that each VM and hypervisor must have its own TPM. But in a virtualized platform, there may be only one physical TPM and it is owned by the base hypervisor (also called a Virtual Machine Manager or VMM).