Open vStorage is an open source software that transforms object storage like OpenStack Swift into block storage for virtual machines (VMs). It acts as a middleware layer between the hypervisor and object store, presenting block storage to the hypervisor while storing data in the object store as time-based containers. This allows VMs to leverage the scalability and low cost of object storage. Open vStorage provides caching to improve performance and integrates with OpenStack through the Cinder volume plugin to enable common functions like snapshots. It provides a single, scalable storage platform for both VM block storage and image/backup object storage.