1. Use a Cache Plugin
2. Kill Spam
Use third party comment system
When things are critical or even if your blog has a high traffic,
you must adopt a third party comment system such as discuss, livefire or
Facebook/G+. When a reader/visiter submits a comment at your blog,
the system needs to insert the texts in your MYSQL database and
that creates a hell lot of load for CPU & if your DB is large or
if it is corrupted or if the system is getting multiple requests
simultaneously, things will go worse.
3. Stay Updated:
Never hesitate to update your Wordpress, plugins or themes.
On redular interval the developer find & fix the bug & release the
latest version of WordPress & its plugins/theme.
I strongly recommend you to stay updated with all the applications
/plugin/themes you are using at your Wordpress blog.
4. Remove unnecessary plugins
5. Reduce load on index.php file
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Reduce the number of posts on homepage
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Always use excerpts for displaying posts on homepage
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Remove image files from homepage & unnecessary links
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Would be better if you use a CDN service