What is classed as a Storage transaction for billing purposes in Windows Azure?

The simple answer is that each REST call made to the Azure Storage Service is counted as a single transaction. This means that each time you query your table or check the size of a queue or upload a blob you will call the Azure Storage REST api and it will be classed as a transaction. It also means that if you are doing a full table query and you start to get continuation tokens you will get multiple transactions.

For a fuller description see the following blog post:

http://blogs.msdn.com/b/windowsazurestorage/archive/2010/07/09/understanding-windows-azure-storage-billing-bandwidth-transactions-and-capacity.aspx

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