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A content delivery network or content distribution network (CDN) is a system of computers containing copies of data, placed at various points in a network so as to maximize bandwidth for access to the data from clients throughout the network. A client accesses a copy of the data near to the client, as opposed to all clients accessing the same central server, so as to avoid bottlenecks near that server.
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Akamai is a company that has lots of servers all over the world. Many very popular web-sites use Akamai servers for offering audio/video content to users. When you watch or listen to audio/video streams from a CDN like Akamai, you usually do it from a server that is the nearest to you.
Akamai NetSession is a p2p technology. This means that you get media content not only from Akamai servers, but also from other users like you. Not only you get this content, but also share it with other users. This sharing is mutually beneficial.
Akamai NetSession may help you to watch videos and listen to audio streams more quickly and smoothly. It makes sense to remove it if you have problems with it.