As an expert in the field of astronomy, I can provide you with the current understanding of the largest known stars in the universe. The size of a star is typically measured by its radius or volume, and the largest stars are often red supergiants.
The title of the largest known star is often attributed to UY Scuti, a red supergiant located in the constellation Scutum. However, there are other stars that challenge this title, such as VY Canis Majoris and the recently discovered Stephen G. Roberts' Variable (V694 Mon). These stars are all within our own Milky Way galaxy.
It's important to note that the size of these stars can be difficult to measure accurately due to their immense distances from Earth and the fact that their sizes can change over time due to stellar evolution.
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