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While the IronKey Vault Privacy 80 is an SSD, the IronKey Vault Privacy 50 is a USB flash drive, and as such is a lot smaller and more suitable for smaller amounts of data that you want to have with you.
Packed into what looks like a standard yet FIPS 197 certified USB flash drive is an XTS-AES 256-bit hardware encryption engine. The business end features a regular USB-A connector compatible with USB 3.2 Gen 1, giving it broad compatibility (if you want to use it on a device with USB-C ports, you'll need a dongle or an adapter) and good performance.
The drive is compatible with Windows and Mac, and you have to run an application on the drive to unlock the drive and access your data. Unlike the IronKey Vault Privacy 80, this drive is not operating system independent.