ah. I imagine you already looked here: https://pve.proxmox.com/wiki/StorageThanks @alexskysilk, I not interested in zfs only, I am more interested to know if local storage has to be used then which one is good ?
Looks like CoW fs is not good for faster nvmes and ssds.
the reason all these options exist is because they try to serve every kind of usecase. If your sole consideration is speed, then yes, lvm is probably your best bet. ZFS is usually the preferred method is NOT because its fastest, but because it is the best overall- it integrates both block and file functionality with fs aware checksums, fault tolerance, inline compression and deduplication (well, THAT requires a lot of resources,) snapshots, with full pve api integration. For virtualization its hard to compete with this featureset.