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5.7. Volume overview

Storage volumes are the basic unit of storage which house a guest domain's storage requirements. All the necessary partitions used to house a guest domain are encapsulated by the storage volume. Storage volumes are in turn contained in storage pools. A storage pool can contain as many storage pools as the underlying disk partition will hold.
The storage volume XML format is specified at https://libvirt.org/formatstorage.html#StorageVol