Linux divides its physical RAM (random access memory) into chucks of memory called pages. Swapping is the process whereby a page of memory is copied to the preconfigured space on the hard disk, called swap space, to free up that page of memory. The combined sizes of the physical memory(RAM) and the swap space is the amount of virtual memory available. Linux has two forms of swap space: the swap partition and the swap file.
From linux.com All about swap space:
Linux divides its physical RAM (random access memory) into chucks of memory called pages. Swapping is the process whereby a page of memory is copied to the preconfigured space on the hard disk, called swap space, to free up that page of memory. The combined sizes of the physical memory and the swap space is the amount of virtual memory available.
Swapping is necessary for two important reasons. First, when the system requires more memory than is physically available, the kernel swaps out less used pages and gives memory to the current application (process) that needs the memory immediately. Second, a significant number of the pages used by an application during its startup phase may only be used for initialization and then never used again. The system can swap out those pages and free the memory for other applications or even for the disk cache. However, swapping does have a downside. Compared to memory, disks are very slow.
Linux has two forms of swap space: the swap partition and the swap file. The swap partition is an independent section of the hard disk used solely for swapping; no other files can reside there. The swap file is a special file in the filesystem that resides amongst your system and data files.
Swap space size should be either similar to system RAM or double it's size.
