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Re:IBM unveils z-series with 5.5 GHz CPU and hardware transa... by jlarocco on Wednesday August 29, 2012 @12:52AM (#4447153)
The Wikipedia article [1] is a pretty good summary. The main advantages are basically very high IO throughput, very good fault tolerance, and very good backwards compatibility.

   [1] https://en.wikipedia.org/wiki/Mainframe_computer#Characteristics

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