template is a master copy of a virtual machine that can be used to create many clones. When you clone a virtual machine, you create a copy of the entire virtual machine, including its settings, any configured virtual devices, installed software, and other contents of the virtual machine’s disks.

So when you start deploying a VM from template, first a dummy VM will register in inventory of vCenter.Only the vmdk will start copy from the template.Later the copy completes the following files will be created.

So where the dummy vmx will be,i think it will keep the vmx file in the run time memory of the esxi host.Until you power on the VM,the VM will not add in the HA protection file list and VM swap will not be created.

Have you noticed there are two vswp files are created.ESXi 5.0 and later has additional second vmx-vmname.vswp which has hardware version 7 or later.

No official information available in Pubs,but follow blogger clearly demonstrated what is it!!

Second .vswp file is dedicated to memory overhead and will be used when the host is under resource constraint. When the virtual machine is created the memory overhead is defined, however the VM and the VMkernel will not use the whole reserved memory until required.

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