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As a rough analogy, you can think of S3 as one large hard drive that everyone shares. Within S3, a 'bucket' is essentially a folder where you can store files. The S3 Browser lists all S3 buckets that are associated with this account. Select a bucket to view its contents.
Note: Although S3 buckets are very easy to set up and use, Amazon's Elastic Block Store (EBS), which provides persistent data storage on EC2, offers several tangible advantages including performance gains.
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