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The ASUSTOR LOCKERSTOR 2 Gen2+ AS6702T v2 is the stronger fit if you can make use of four NVMe slots or dual 5GbE networking. The TerraMaster F2-423 may suit a less demanding network and SSD setup, particularly if its current price is attractive, but it is an older model with a newer F2-424 successor to consider. Neither specification sheet proves which NAS will deliver faster real-world file transfers.
One detail matters before you compare listings: ASUSTOR also sold an earlier LOCKERSTOR 2 Gen2 called the AS6702T. This comparison is specifically about the AS6702T v2, marketed as Gen2+. Check the full model name and revision when shopping; the earlier model’s specifications should not be substituted for the v2’s.
At a glance: which 2-bay NAS should you buy?
These enclosures share a basic role: each has two SATA drive bays, a quad-core Intel Celeron processor, and room for M.2 NVMe SSDs. Their clearest differences are the number of NVMe slots, Ethernet speeds, and stated maximum memory. Those distinctions matter more than small differences between processor model numbers unless your workload is specifically CPU-intensive.
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| Decision point | ASUSTOR LOCKERSTOR 2 Gen2+ AS6702T v2 | TerraMaster F2-423 |
|---|---|---|
| Processor | Intel Celeron N5105, four cores, 2.0GHz base and up to 2.9GHz | Intel Celeron N5095, four cores, 2.0GHz base and up to 2.9GHz |
| Memory as specified | 4GB DDR4-2933 SO-DIMM; stated maximum 16GB | 4GB DDR4 dual-channel; stated maximum 32GB |
| SATA bays | Two 2.5- or 3.5-inch SATA III bays | Two SATA bays |
| M.2 NVMe slots | Four PCIe 3.0 slots | Two slots |
| Ethernet | Two 5GbE ports | Two 2.5GbE ports; the manufacturer says link aggregation can provide up to 5Gb aggregate bandwidth |
| USB ports | Two 10Gbps ports and one USB 2.0 port | Exact port layout is not stated in the cited F2-423 datasheet excerpt |
| Stated SATA volume choices | Single, JBOD, RAID 0, or RAID 1 | Single or RAID 0/1; the datasheet also describes online capacity expansion and migration |
These are manufacturer specifications, not results from a controlled head-to-head test. The TerraMaster figures come from a Chinese-language manufacturer datasheet, so verify the specification for your region and exact product listing before purchase. The table can identify capability differences, but it cannot establish a real-world performance winner.
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Why the ASUSTOR model revision matters
ASUSTOR’s product materials use similar names for two generations: the earlier AS6702T and the newer AS6702T v2, marketed as LOCKERSTOR 2 Gen2+. The v2 is the model with two 5GbE ports and four M.2 NVMe slots. The earlier model’s page describes a different generation; do not infer the v2’s networking or other features from a listing that only says “AS6702T.”
Before ordering, look for the complete “AS6702T v2” or “Gen2+” designation on the retailer page, box, or manufacturer listing. If a listing is ambiguous, ask the seller to confirm the exact revision rather than relying on photos or a shortened product title. This is especially important when comparing prices: the cheaper listing may be a different model.
NVMe expansion: four slots versus two
The AS6702T v2 provides four PCIe 3.0 M.2 NVMe slots; the F2-423 provides two. That is the ASUSTOR’s clearest expansion advantage. The extra slots offer more room to build an SSD-based configuration or add NVMe drives for a supported use without giving up a SATA bay. Whether that flexibility is useful depends on your storage plan, not the slot count alone.
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Before paying for NVMe drives, confirm that the NAS operating system supports your intended use on the exact model and software version. “M.2 slot” by itself does not tell you whether a drive can be used as cache, a storage volume, or both. Nor does the number of slots guarantee a particular performance improvement. SSD behavior depends on the workload, drive compatibility, volume configuration, and the rest of the system.
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- If your main goal is ordinary shared storage for documents, photos, or media, two SATA drives may be the main capacity investment; extra NVMe slots may not justify a higher enclosure price.
- If you have a specific SSD workload or want more room for NVMe expansion, the four-slot ASUSTOR layout gives you more physical options than the F2-423.
- For either model, check the manufacturer’s supported drive information before buying SSDs. The cited material does not establish a complete compatible-SKU list.
There are still only two SATA bays in either enclosure. Adding NVMe drives does not turn either into a four-bay SATA NAS, and it does not remove the need to plan capacity and backups for the data you store.
Networking: dual 5GbE is not automatically twice as fast
The AS6702T v2 has two 5GbE ports. The F2-423 has two 2.5GbE ports, and TerraMaster says the F2-423 can reach up to 5Gb aggregate bandwidth through link aggregation. That aggregate figure describes combined link capacity, not a promise that one computer or one file transfer will use both connections at once.
To benefit from a faster NAS port, the full path must support it: the NAS connection, network equipment, cabling, client interface, and workload all matter. A client connected through a slower port or network segment cannot obtain the port’s maximum link rate. Likewise, usable file-transfer speed can be limited by the drives, RAID or volume configuration, and workload even when the network link is faster.
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When the ASUSTOR ports are useful
Dual 5GbE is the more capable wired interface on paper. It is most relevant if your network and intended clients can connect at those rates, or if you have a setup in which multiple network paths can be used effectively. If the rest of your network is limited to 1GbE or 2.5GbE, buying the ASUSTOR does not make those devices communicate at 5GbE.
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How to evaluate the F2-423 aggregation claim
Do not treat two 2.5GbE connections aggregated as identical to one 5GbE connection. Aggregation can combine traffic across links under supported network and client conditions, but a single client or transfer may not be distributed across both ports. Check that the NAS, network equipment, and clients support the arrangement you intend to use before counting aggregate bandwidth as a practical advantage.
No independent, like-for-like performance result is established here for either NAS. The manufacturer specifications and TerraMaster’s performance claims should not be read as neutral proof of transfer rates under your workload.
Memory capacity and upgrade planning
Both models are specified with 4GB of memory from the manufacturer. ASUSTOR states a 16GB maximum for the AS6702T v2; TerraMaster’s F2-423 datasheet describes 4GB DDR4 dual-channel memory expandable to a maximum of 32GB. On stated capacity alone, the F2-423 has the higher ceiling.
A maximum-capacity figure is not a recommendation for every user, nor does it prove how much memory a particular app or workload needs. Check the exact supported module list and the revision-specific installation guidance before buying an upgrade. The available specifications do not establish qualified memory module SKUs for either unit, so do not assume that any module with the right general type and capacity will be supported.
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- Multiple RAID Configurations: The D2-320 is a hardware RAID enclosure and it supports RAID 0, RAID 1, JBOD and SINGLE which can better satisfy various demands of users. In RAID 1, data will be in a mirror backup. When there is a damaged hard drive, you can directly replace the hard drive, and the data will be recovered automatically. This provides an absolute security for the data
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Processor and drive bays: shared basics, different limits
ASUSTOR specifies an Intel Celeron N5105 in the v2; TerraMaster specifies an Intel Celeron N5095 in the F2-423. Both are listed as quad-core processors running at 2.0GHz and reaching up to 2.9GHz. Those headline details do not establish which NAS is faster for file serving, applications, encryption, or a particular multitasking workload. The available evidence contains no controlled test comparing the two systems.
Each NAS has two SATA bays. You can install two drives, but you cannot expand the number of installed SATA drives beyond those two bays. Consider the drive layout before choosing capacity: a two-drive setup has less room for later expansion than a NAS with more bays, and changing the arrangement later may involve copying data or rebuilding a volume. The F2-423 datasheet mentions online capacity expansion and migration, but that description does not replace checking the exact supported procedure and conditions for your chosen configuration.
The manufacturers list single-disk, RAID 0, and RAID 1 options for the relevant SATA volumes; ASUSTOR also lists JBOD. RAID 1 mirrors data between two drives, which can help maintain availability if one drive fails, but it is not a separate backup. Accidental deletion, malware, theft, or other events that affect the NAS can still put the data at risk. Keep a separate backup on another device or destination, and verify that you can restore important files.
Software, updates, and buying an older NAS
The F2-423 uses TerraMaster’s TOS operating system. TerraMaster’s official TOS 7 release notice lists the F2-423 as an applicable model and says the update applies from TOS 6.0.794. The model’s inclusion in that notice is useful evidence of a documented TOS 7 update path; it is not a guarantee that every unit is already on a supported starting version or can be updated without checking its configuration.
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TerraMaster gives a specific warning for systems installed on, or planned to be installed on, an M.2 NVMe SSD: “If your system is currently installed on, or you plan to install it on, an M.2 NVMe SSD, please follow the guide to adjust the BIOS boot order before updating.” Check the NAS’s installed TOS version and current update instructions before proceeding, and follow the boot-order guide if that condition applies. This is a targeted update instruction, not evidence that every F2-423 has a boot problem.
A separate TerraMaster notice from 2026 concerns the end of life of TOS 4.x and names the F2-423 in its migration discussion. That notice is about TOS 4.x; it does not establish that the F2-423 hardware itself has reached end of support. The official TOS 7 notice separately lists the F2-423. Confirm the software version and upgrade path that apply to the particular unit you are considering.
Compare the F2-423 with its successor
TerraMaster described the F2-424 as an upgrade to the F2-423, specifying an Intel N95 processor and 8GB DDR5 memory in its announcement. This makes the F2-423 a previous-generation purchase decision. The announcement does not establish current stock, local pricing, or a controlled performance comparison between the two generations.
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Calculate the complete setup cost
The enclosure price is only part of the cost of a usable NAS. Both models need SATA drives if you want to populate their SATA bays. NVMe SSDs are optional and should be included only if your planned use supports the added cost. Faster networking may also involve other equipment and compatible clients; upgrading the NAS alone does not upgrade the network path.
- Drives: include the cost of the SATA drives you plan to install. Choose capacity and a redundancy arrangement that match the data and availability you need.
- NVMe SSDs: price these separately and confirm that the NAS software supports your intended use and the exact drive model.
- Network changes: include compatible network equipment, client connectivity, and cabling only if you need more than the rates your existing network supports.
- Memory: account for an upgrade only if your workload calls for it, and confirm supported modules for the exact revision first.
- Backup: budget for a separate backup destination. RAID 1 does not replace an independent copy.
No current retail prices, stock levels, or region-specific deals are established here. Compare live local prices for the exact AS6702T v2 and F2-423 listings, then add the cost of the drives and upgrades needed to make each one meet your requirements. For the F2-423, include the F2-424 in that comparison.
Choose based on your actual requirements
Choose the ASUSTOR AS6702T v2 if
- You expect to use more than two M.2 NVMe drives or value the additional expansion flexibility.
- Your network path and clients can make practical use of dual 5GbE.
- You have confirmed that a listing is for the v2/Gen2+ rather than the earlier AS6702T.
Consider the TerraMaster F2-423 if
- Two M.2 slots and dual 2.5GbE meet your planned storage and network needs.
- The current price is compelling compared with the newer F2-424 and the AS6702T v2, after including drives and required upgrades.
- You have checked the TOS version, applicable update instructions, and support information for the specific unit.
Pause before buying either if
- You need more than two SATA bays or want to expand the count of installed SATA drives later.
- You are choosing based on a claimed transfer-rate advantage without checking the whole network path and workload.
- You have not confirmed exact model revision, drive compatibility, or memory support.
The practical verdict is conditional: the AS6702T v2 is the more flexible choice for NVMe expansion and higher-speed Ethernet; the F2-423 can make sense when its lower-tier connectivity and two NVMe slots are enough and its current price beats newer alternatives. The specifications do not justify naming either one the universal performance winner.
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