A method and system for transforming a logical data object for storage in a storage device operable with at least one storage protocol, creating, reading, writing, optimization and restoring thereof. Transforming the logical data object comprises creating in the storage device a transformed logical data object comprising a header and one or more allocated accommodation sections with predefined size; processing one or more sequentially obtained chunks corresponding to the transforming logical data object thus giving rise to the processed data chunks, wherein at least one of said processed data chunks comprises transformed data resulting from said processing; sequentially accommodating the processed data chunks into said accommodation sections in accordance with an order the chunks received, and generating at least one index section constituting a part of the transformed logical data object, said index section comprising one or more entries containing indicators to physical storage location of respective accommodation sections and, with respect to each processed data chunk, one or more records related to said chunk, wherein said records indicate offset and length of data in the logical data object to be read from the respective processed data chunk, and are associated with a time stamp indicating time of creating said record. The method further facilitates reading a data range from the transformed logical object in response to a read request specifying desired point in time to be read.