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Object storage is a relatively new storage tier designed for low-cost, low-performance needs, catering to internet workloads such as web applications, website hosting, and content delivery. It provides a solution for storing large volumes of data, including migrating the data traditionally kept on tape. This type of storage ensures data safety and security, allowing for long-term retention necessary for regulatory and legal obligations. The key aspect of object storage is the concept of "objects," which can encompass any type of file, without strict restrictions, making it a flexible option for data management.