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In response to "What exactly does that do? Is it just hard drive space for multimedia content?" by spamlet

When my NAS was running (D-Link DNS-323), it was visible to all the computers on my network as a storage location. It also shared my printer via LAN.

And it had software on it that I could log into from any machine to download bit torrents, and then I could stream them straight from the NAS to my XBox or to my bluray player with DLNA support.

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