ELB (Elastic load balancing) helps to make your applications highly available by using health checks and distribute the incoming traffic multiple targets such as Amazon EC2 instances, containers, IP addresses, and Lambda functions.
ALB (Application Load Balancer) is a type of ELB that is mainly designed for web applications with HTTP and HTTPS. This is named Application Load Balancer because this load balancer works at the Application layer. In ALB, we register targets in target groups and route it routes requests to its target groups.
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You can watch this video to understand AWS ELB and its types:
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