A portable MiKTeX edition will be available later this year. The portable edition allows you to run MiKTeX from a portable flash drive:
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you carry MiKTeX on a portable drive for use on any Windows computer
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configuration settings are stored on the portable drive and not on the host computer
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by using the portable edition, you leave no traces on the host computer
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you do not need administrator privileges on the host computer
A beta will be released soon.