CDN (Content Delivery Network) is a network of distributed servers that cache a site's content closer to users. A request goes not to the origin server but to the nearest node of the network, which speeds up loading.
The site's domain is pointed at the CDN through DNS (usually with a CNAME record). A user reaches the edge node closest to them; if the requested file is already in the node's cache it is served immediately, otherwise the node fetches it from the origin server and stores it. How long it stays cached is controlled by headers and the TTL.
Using a CDN brings several benefits:
A CDN is especially useful for high-traffic sites with heavy static content — images, video and scripts.