Fibre Channel- and iSCSI-based SANs have things in common, for example they both support block based access of storage. Fibre Channel is better posited for higher bandwidth, lower latency applications, while iSCSI over GB Ethernet works better for tiered access of smaller and distributed servers. Contrary to some marketing hype, iSCSI and Fibre Channel are very complimentary, yet address different markets and needs. Another comparison to make is between iSCSI and NAS, both of which enable IP-based storage, the difference being block vs. file.
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