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FastAPI is an entire web framework using ASGI, whereas this is just a WSGI server.

You could compare FastAPI vs FastWSGI+Flask or any other WSGI framework.

I doubt that, the project name is FastWSGI, not FastASGI.

FastAPI is a framework, the server underneath FastAPI would be uvicorn, which is also based on libuv

Actually you can use any ASGI-compatible web server[1] with FastAPI, uvicorn is generally preferred though because it is apparently the fastest.