What does the vault do?
Its where data is stored when its get “PUT” on the network. Helps direct traffic for members of your close group and running run is how you’ll get safe coin once its implemented.
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It stores all your pokemon videos, dragon ball episodes, and pictures from your 5th birthday party.
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Well you see they’re kind of like MAGIC RAINBOW BALLOONS and STUFFED ANIMALS. Each UNIQUE stuffed animal (a.k.a. person [with a computer]) has their own balloon (hard drive) filled with MYSTERIOUS CANDY (data)… Now, the reason these balloons are magical is because you can shatter the candy with your own small little fist, and reach up and place the tiny pieces inside the balloons, without them going POP, POW! The wonderment doesn’t end there! Every stuffed animal has those tiny bits and pieces of candy inside their balloons, and each and every piece “teleports” (have you seen Star Trek, little Johnny?) to and from every single balloon which shares this magical property. The magical wizard called Maidsafe cast a spell on every stuffed animal’s balloon to make this happen. And then… well, it’s a bit difficult to explain. I’ll wait til you’re older.
Why does everyone have to be a 5-year old exactly? Is this the kind of expectations we should have in a rich society? Call it a figure of speech or something that doesn’t really mean what it literally does; but if you really stare at the concept of “explain like I’m 5” it doesn’t really hold up to true understanding of what people need to know, a lot of which they can find out on their own (especially if there are already guides written that explain like people are adults). Maybe like, explain like I’m 18 or something would be better. Or greymatter310 pretty much got it.
All in all, vaults are pretty easy to explain as part of the whole SAFE system/net. It’s a fraction of your hard drive that you dedicate your files to – which SAFE Net has automatically shred into pieces and then encrypted. Imagine every single server in the world being replaced with these vaults all around the world holding countless pieces, of data, all of which are duplicated 3(?) times, totaling 4. And even if one vault turns off, the SAFE smart system instantly knows whichever pieces were held by that vault—and immediately creates another (4th?) copy elsewhere. The SAFE system built around these vaults are the most important part (so far), so it’s hard to explain one part (vaults) without emphasizing all the others (vaults themselves are quite integral, but the 10 years of work was due to all the important SAFE groundwork leading up to them). SAFE Net allows for these vaults to be used in creating a decentralized internet that’s fast, secure, private.
Hope that wasn’t too complicated…
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I was kind of digging the magical description. 
Without getting a grip on the very large picture, it IS, after all, “just like magic.”
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