A:AnswerOld consoles such as the N64, Gamecube,Ps1 and ps2 used "memory cards" so people associated it with storage, even though yes memory has to do with something else
A:AnswerThe storage works on both previous and next gen games, so you will be able to play from OG Xbox games all the way to Series X/S games. You can use an external hard drive to store the games from the XBOX One. Once your games are stored in your hard drive, you can unplug it from your XBOX One and plug it into the XBOX Series S. You have two options here, if you have the Storage Expansion Card, you can transfer your games from the hard drive to the expansion card by connecting both of them into the XBOX, or you can just transfer them into the console's internal storage and play them from there.