My first question is , is Phalcon 3.0.x compatible with php 7.0.x and is it recomended? Phalcon documentation says Phalcon 3.0 does so (with zephir).
My other question is
How to set up Phalcon with php 7 in ubuntu?
Can any one tell the proper way, becacuse this involves some configurations.
Yes, Phalcon 3.0.x is fully compatible with PHP 7.0.x. And it is highly recommended that you use it with PHP 7.
You can easily install Phalcon 3 on Ubuntu. The install proces is rather easy now. (Check out the installation documentation for the latest info)
curl -s https://packagecloud.io/install/repositories/phalcon/stable/script.deb.sh | sudo bash # Ubuntu 16.04+ or Debian 9+ sudo apt-get install php7.0-phalcon