1Block vs Object
EBS is Block Storage. It behaves like a raw, unformatted hard drive. You install file systems on it (like ext4 or NTFS) and it can boot operating systems. S3, on the other hand, is Object Storage, accessed via APIs, and cannot run an OS.
2The Magic of Snapshots
Snapshots are incremental. If you have a 100GB volume and take a snapshot, it backs up 100GB. If you change 2GB of data and take another snapshot, the second snapshot only stores the 2GB difference, saving you massive amounts of money on backup storage.
