A bit similar to network RAID - more like RAID6
If you would like to see a quick walk through of GeoParity at a high level you can find a video here: GeoParity Video
GeoParity increases resiliency and fault tolerance of content by breaking an object into multiple fragments and encoding several additional fragments.
These fragments are then distributed across the Atmos infrastructure and you can still retrieve your content if you are able to access a minimum threshold of fragments (depends on the type of policy you set up).
One more bit of info for you.
GeoProtect is how Atmos protects your content in an Atmos storage cloud. There are two methods we protect data: GeoMirror (think 1:1 copy) and GeoParity as described above.
Depending on your needs you can chose the best approach to your content at any given time.
You can even change protection schemes your self through Atmos Online by updating the user meta data around objects.
In Atmos Online the default policy leverages GeoMirror, but if you update the user meta data to the name value pair of geoparity:true you will automatically set the GeoParity policy.