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Are they similar to hard drives? Can you explain?

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You can create storage volumes and attach them to AWS EC2 instances. You can use it as you just use any physical hard disk. After attaching, you can create a file system on top of these volumes and use accordingly. These are placed in a specific AZs (Availability Zones) where they are automatically replicated in the same region to protect you from the failure of a single component.

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