Cloud Storage is a cloud computing model where data are stored on the Internet by the cloud service provider who owns and manage the data storage on the Internet in a pay-as-you-go model. The cloud storage provider manages the data and makes it accessible from anywhere at any time. 

The three cloud storage requirements should be fulfilled to ensure your data is secure, safe and available.

1. Durability: The data should be durable; that is, it should be stored at multiple locations so that data is not lost in case of human error, natural disasters, etc.
2. Availability: The data should be available whenever required and accessible remotely and on all types of devices.
3. Security: The data must be encrypted in the cloud, and it should be accessible to only authorized users and safe from any computing threads.

Types of Cloud Storage

1. Object Storage: Object Storage is a strategy in which data is managed as objects. Object storage combines the pieces of data that make up a file, its associated metadata, and a custom identifier.
2. File Storage: The storage stores data in hierarchical file and folder structures. Network Attached Storage (NAS) server mainly supports this kind of storage. File storage is used for home directories, development platforms, and repositories for video, audio, and other files.
3. Block Storage: Block Storage is shared storage in which data are stored in a large volume called blocks. Block Storage is efficient and fast and provides low IO latency suited for large databases and applications.

Cloud storage can be used for multiple purposes, such as :

• Backups and Recovery
• Archiving infrequently accessed data
• Software Test and Development
• Big Data and Data Lakes

Benefits of Cloud Storage

1. Scalability: While using on-premise storage, there may be many limitations for storage, but while working with the cloud, you can store as much data as you want because you can quickly scale up as per your requirement.
2. Quick Implementation: The cloud storage process for setup and adding storage capabilities is fast and more accessible; you can start using these services within a few hours or days, as per the storage capacity required.
3. Business Continuity: Since data are stored in the cloud and replicated to multiple locations for fast and reliable access, data will remain secure in case of a natural disaster or terrorist attack.
4. Cost Effective: As known, cloud provider charge only for the resource used, which is a pay-per-use model. So, customers don’t need to pay extra charges; they will only be charged for their storage capacity. 

Disadvantages of Cloud Storage

1. Security: Security is an essential concern in cloud-based storage. However, cloud service providers try to use the latest technologies and software to prevent data breaches and secure their infrastructure.
2. Latency: There may be a delay in data transmission, especially when using a public internet connection; however, organizations can minimize this by increasing connection bandwidth.
3. Performance Degradation: If an organization is running an in-house application and wants to access the data on the cloud, it may run into performance issues. In such cases, either they need to move their servers and application to the same cloud, or they can bring back their required data in-house.