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The maximum allowed value for the LOG_SPACE keyword has been increased from 1GB to 4GB-1. This controls the initial size of transaction logs (of 4 logs specifically), so each log can now grow to just under 1GB. Each individual log can now grow up to 4GB if needed, although 3GB is expected to be the largest size, which will be a 1GB normal log size, plus a potential 2GB variable-length record in a transaction. Reducing the number of logs results in less log file churning with high velocity applications leading to faster consistent transaction throughput.
