The Banker's algorithm is used -

The Banker's algorithm is used - Correct Answer to prevent deadlock

The Banker algorithm, sometimes referred to as the detection algorithm, is a resource allocation and deadlock avoidance algorithm developed by Edsger Dijkstra that tests for safety by simulating the allocation of predetermined maximum possible amounts of all resources, and then makes an "s - state" check to test for possible deadlock conditions for all other pending activities, before deciding whether allocation should be allowed to continue. Source: wikipedia.org
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This method is widely used —— algorithm is not only effective but also very simple.