What is the significance of service discovery and service registry in backend development?
Service discovery and service registry are critical components in backend development, allowing for efficient and dynamic communication between microservices. Service discovery enables automatic detection of available services and their respective network locations, facilitating seamless interaction. On the other hand, service registry acts as a central database that holds and manages information about various services and their endpoints. This information can include network addresses, health status, and metadata. By using service discovery and service registry, developers can build scalable and resilient applications, implement load balancing, and handle failovers effectively.