This street node connects back to the exchange using fibre and acts as the link between the fibre network and the copper that services your premises. The closer the node is to your home, the better your potential speed.
To connect to the internet using FTTN, you’ll need a VDSL2-compatible modem. You can BYO or choose a modem when signing up with MATE.
Want more detail? Check out the official nbn page.