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Mirror-accelerated parity - Two-way mirror:
Storage efficiency: 50 percent
Tolerate: One hardware problem
Storage efficiency: 33.3 percent
Tolerate: Two hardware problems
If the volume isn't created properly (see screen below), especially in a single node deployment I observed this several times, then you can switch to provisioning via PowerShell.
The PowerShell - Way:
# CSV creation directly on the node: New-Volume -FriendlyName "VMStore" -Size 1TB -ProvisioningType Thin