Reference:https://docs.cloud.oracle.com/en-us/iaas/Content/File/Concepts/filestorageoverview.htm

Explanation
A fault domain is a grouping of hardware and infrastructure within an availability domain. Each availability domain contains three fault domains. Fault domains provide anti-affinity: they let you distribute your instances so that the instances are not on the same physical hardware within a single availability domain. A hardware failure or Compute hardware maintenance event that affects one fault domain does not affect instances in other fault domains. In addition, thephysical hardware in a fault domain has independent and redundant power supplies, which prevents a failure in the power supply hardware within one fault domain from affecting other fault domains.
To control the placement of your compute instances, bare metal DB system instances, or virtual machine DB system instances, you can optionally specify the fault domain for a new instance or instance pool at launch time. If you don't specify the fault domain, the system selects one for you. Oracle Cloud Infrastructure makes a best-effort anti-affinity placement across different fault domains, while optimizing for available capacity in the availability domain. To change the fault domain for an instance, terminate it and launch a new instance in the preferred fault domain.
Use fault domains to do the following things:
Protect against unexpected hardware failures or power supply failures.
Protect against planned outages because of Compute hardware maintenance.

Explanation
The File Storage service supports snapshotsfor data protection of your file system. Snapshots are a consistent, point-in-time view of your file systems. Snapshots are copy-on-write, and scoped to the entire file system. The File Storage service encrypts all file system and snapshot data at rest. You can take as many snapshots as you need.
Data usage is metered against differentiated snapshot data. If nothing has changed within the file system since the last snapshot was taken, the new snapshot does not consume more storage Snapshots are accessibleunder the root directory of the file system at .snapshot/name. For data protection, you can use a tool that supports NFSv3 to copy your data to a different availability domain, region, file system, object storage, or remote location.

Explanation
Object Lifecycle Management lets you automatically manage the archiving and deletion of objects. By using Object Lifecycle Management to manage your Object Storage and Archive Storage data, you can reduce your storage costs and the amount of time you spend managing data.
Use object name filters to specify which objects the lifecycle rule applies to.
You can add object filters in any order. Object Lifecycle Management evaluates the precedence of the rules as follows:
Pattern exclusions
Pattern inclusions
Prefix inclusions