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With CGN, instead of giving user networks their own public IPv4 addresses, a user’s private IPv4 address is translated using NAT to another private IPv4 address to connect to its provider’s network.

Note

What's Carrier Grade NAT? #IPv4 url:https://www.safaribooksonline.com/library/view/ipv6-fundamentals-a/9780134670584/graphics/01fig04.jpg