Block storage is detached from the compute instance and persists independently, even if the VM is deleted (see TechDocs for details and limitations). It supports redundancy, high availability, and easier migration. Local storage, on the other hand, is tied to the VM and lost when the instance is shut down.
With Akamai Block Storage, volumes can be attached or moved between compute instances without rebooting, making it a more flexible and reliable choice for production workloads.