What is the function of OCI Block Volumes?

OCI Block Volumes serve a crucial function by offering scalable block storage that can be efficiently attached to compute instances. This allows users to manage data that requires consistent performance and low latency. Block storage is particularly suitable for applications such as databases or enterprise applications that demand high input/output operations, as it provides the necessary speed and efficiency.

By utilizing OCI Block Volumes, users can easily scale their storage according to their needs, detach volumes from one compute instance, and attach them to another. This flexibility enables data migration and management without significant downtime, making it a vital component of Oracle Cloud Infrastructure.

The other options do not accurately describe the core purpose of Block Volumes. For instance, providing virtual networks pertains to networking resources rather than storage, while hosting web applications involves different services that are not specifically linked to block storage. Lastly, managing the lifecycle of cloud instances relates more to compute and orchestration services rather than the functionality of Block Volumes.