Final answer:
An Internet Gateway (IGW) is the VCN component allowing inbound and outbound internet traffic. It is configured within the cloud network to manage traffic flow. IGWs are provided by cloud service providers to support scalable and reliable cloud applications.
Step-by-step explanation:
The component of a virtual cloud network (VCN) that enables both inbound and outbound traffic between a VCN and the internet is known as an Internet Gateway (IGW). An Internet Gateway serves as a connection point that allows communication between the cloud network and the external internet. It is essential for performing tasks that require internet access, such as connecting to external websites, accessing cloud services located outside the VCN, and providing public-facing services (e.g., web hosting).
Managing an Internet Gateway involves configuring route tables and security lists or network security groups within the VCN to control the flow of traffic. These configurations determine what traffic is allowed to enter and leave the network. The use of IGW is typically facilitated by cloud service providers as part of the infrastructure services they offer to support scalability, redundancy, and high availability for client applications.