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Shared library are stored as .so (or in Windows .dll, or in OS X .dylib) files.

These are linked dynamically simply including the address of the library (whereas static linking is a waste of space). Dynamic linking links the libraries at the run-time. Thus, all the functions are in a special place in memory space, and every program can access them, without having multiple copies of them.

See: Static Library

Source: https://www.geeksforgeeks.org/difference-between-static-and-shared-libraries/