Dynamic erasure coding for computing and data storage systems. A method embodiment commences upon accessing a set of fault tolerance policy attributes associated with the computing and data storage system. The topology of the system is analyzed to form mappings between the computing nodes of the system and the availability domains of the system. Based on the fault tolerance policy attributes, the topology, and the generated mapping, a plurality of feasible erasure coding configurations are generated. The feasible erasure coding configurations are scored. One or more high-scoring feasible erasure coding configurations are selected and deployed to the computing and data storage system. The method is repeated when there is a change in the fault tolerance policy attributes or in the topology. Depending on the topology and/or the nature of a change in the topology, more than one erasure coding configurations can be deployed onto the computing and data storage system.