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NAT - Usually you get one ip address per internet connection. Somewhere like a school, with 30 computers isn't going to buy 30 separate connections. So they use NAT. All the computer's have their own private ips and make use of the one external ip.

Subnetting - I wouldn't worry about this too much at the moment, not until you learn a bit more of the basics.

Ip addressing - This is just like a house address, except its a computer address. If you started a download... its sent to your ip address.

Pinging - this is just a simple tool, designed to tell you if you can reach a particular destination. Invaluable when troubleshooting network issues.

routers - Most home users just use routers for the wirless capabilities.... In advanced networks you can do alot more with them.

Default gateway - For alot of people, their router is their default gateway. Its pretty much where you send a packet to so that it can reach the internet.

AnswerNATing, subnetting, IP addressing, etc, those aren't included in the basics. Maybe someone else will explain this stuff, but I don't feel like typing a few hundred pages in this little text box. Pinging is simply a way to find out if another computer on the network is turned on and correctly connected to the network when you know the IP address of the other computer. You might find this site useful: http://computer.howstuffworks.com
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Q: Can you please explain in simple terms what computer networking is all about and the basics of networking like ip addressing NATing pinging subnetting gateway routers etc?
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