It is a object storage solution provided by Azure for cloud-native workloads, data archives, data lakes, etc. It is similar to the S3 A service offered by AWS.
It is: ScaleWSable, durable, and available Secured Optimised for data lakes
There are Standard (HDD) and Premium (SSD) Performance
There are Hot, Cool and Archive Access Tiers.
When a blob is uploaded or moved to another tier It’s charged at the new tier’s rate immediately upon tier change.