No. Although the default up.time configuration includes a bundled MySQL database, the up.time database connection is designed to allow the DB to reside on a different server. The remote database may run an Oracle, SQL Server or MySQL DataStore.
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Please click here to see a list of supported database versions.
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Please refer to Migrating Your DataStore To a New Database and Moving your MySQL DataStore to a Remote Host for information on migrating your default bundled MySQL database.