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Amazon EC2 Overview and Features

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Core Features: EC2 is AWS's web-based service for running applications in public cloud
Platform includes over 750 instances for various enterprise workloads
Provides scalable computing capacity on demand without hardware investment
Offers multiple storage options including block-level, instance and object storage
Instance Types: General purpose instances balance compute, memory and networking resources
Compute-optimized instances handle compute-bound applications
Memory-optimized instances process large memory data sets
Storage-optimized instances provide high IOPS for local data access
Pricing and Benefits: Available on pay-as-you-use basis with hourly billing
Offers Reserved Instances with up to 72% discount
Provides Spot Instances at up to 90% discount
Includes free tier with 750 hours of Linux/Windows t2.micro instances
History and Development: Created by Chris Pinkham and Benjamin Black in 2006
Launched in full production on October 23, 2008
Added AWS Management Console and monitoring services in 2009
Remains foundational element of AWS cloud computing service