We are excited to offer two types of redundant storage for Windows Azure: Locally Redundant Storage and Geo Redundant Storage. Locally Redundant Storage (LRS) provides highly durable and available storage within a single location (sub region). We maintain
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Read the complete post at http://blogs.msdn.com/b/windowsazure/archive/2012/06/08/introducing-locally-redundant-storage-for-windows-azure-storage.aspx