Appears to be Google's version of Amazon Glacier
Google Cloud Platform Blog: Introducing Google Cloud Storage Nearline: (near)online data at an offline price
Google Cloud Platform Blog: Introducing Google Cloud Storage Nearline: (near)online data at an offline price
Fast Performance: all the benefits of cold storage while making the data immediately available. Unlike its competitors, Nearline enables ~3 second response times for data retrieval and improves SLAs.
Low-cost: capacity pricing is extremely low at 1c per GB for data at rest.
Security: redundant storage at multiple physical locations protects data. OAuth and granular access controls form strong, configurable security.
Integrated: fully integrated with other Google Cloud Storage services, providing a consistent method of access across the entire Google Cloud Storage service line.
Simple: no need to adopt new programming models – data manipulation behavior remains the same across Google Cloud Storage services.