Azure Premium Blob Storage Is Now In Public Preview

Premium Block Blob Storage uses a combination of solid-state drives in storage clusters and enhancements to blob storage software to provide high throughput and very fast response times.

Microsoft has announced the public preview of Azure Premium Blob Storage which, according to the company, is a new performance tier in Azure Blob Storage, complimenting the existing Hot, Cool, and Archive tiers.
"Premium Blob Storage is best for workloads with high transaction rates or requires very fast access times, for example, IoT, Telemetry and AI, as well as scenarios with humans in the loop such as interactive video editing, online transactions, and more", the company claims.
Azure Premium Blob Storage 
Source: Microsoft 
Also, the team boasts that testing has shown that both average and 99th percentile server latency is significantly lower than Hot Access tier. Premium Blob Storage is available with Locally-Redundant Storage (LRS). It comes with High-Throughput Block Blobs (HTBB), which gives very high and instantaneous write throughput. You can store block blobs and add blobs in Premium Blob Storage.
Though Premium Blob Storage's data storage cost is higher, it has a lower transaction cost as compared to the regular Hot tier. This way, it is cost-effective and less expensive for workloads with very high transaction rates.
For now, the public preview is available in US East, US East 2, US Central, US West, US West 2, North Europe, West Europe, Japan East, and Southeast Asia regions.
You can visit the official announcement here.