You can select several different server types when creating a server on Minehut! Each comes with it's own strengths and weaknesses, but here is a quick rundown.
Paper: This is a fork of Spigot, it has more optimizations than Spigot but it incorporates it's code so plugins that work on Spigot should also work on Paper. There are typically more bug fixes in Paper which can make it more stable.
Waterfall (Proxy): A fork of the well-known BungeeCord server teleportation suite. It focuses on stability, features, and scalability.
Velocity (Proxy): Another proxy server type, this one is generally more robust and uses less resources.
NachoSpigot: A fork of TacoSpigot, offers a number of enhancements to performance as well as bug fixes and is able to perform well with a large number of players.
Fabric: Modloader for Minecraft servers, on it's own it does not apply any optimizations but there are several mods you can use to reduce tick speed and improve performance from Vanilla.
SpongeForge: SpongeForge is technically not a server type, it runs as a mod for Forge. It does make some changes that allow Sponge plugins to be installed on a modded server though.
Each server type also has multiple server versions available as well so you can customize your server just the way you like it.