The NBN has many acronyms to describe the many ways homes are connected to this new national network.
Below is a quick summary of what each of these mean.

Fibre to the premises (FTTP)

Fibre to the premises is when the NBN fibre connects directly to your home.
This provides the best service on the NBN but of course became expensive to rollout so we find more installations with Fibre to the node (FTTN)

Fibre to the node (FTTN)

With FTTN, a fibre node is installed in your street or close by. From here your existing copper lines from your home is terminated at this hub.
Of course with this system we can and still have some reliability issues with the old copper in certain areas. These will be presumably rectified in time.

Fibre to the basement (FTTB)

This type of installation is used for all apartments and flats.
An NBN fibre connection is run to the “basement”.
From this point the existing cable within the apartment block is utilised for distribution, typically copper in older style apartments. This effectivly becomes a FTTN setup.

Hybrid Fibre-Coaxial (HFC)

This scenario utilises the old cable network run either by Telstra or Optus for their cable services.
This netowrk had contention problems (too many users not enough network) before the NBN so the NBN will need to do a lot of work to bring this network up to speed.