I have an ASUS 11.6 laptop and the processor is Intel Celeron N4020. Will it work on the newest version of Ubuntu?
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Yes. This is a modern processor and it will work with Ubuntu 20.10 for basic tasks just fine. These things generally ship with 4GB of RAM and sluggish storage so, if your main use case involves browsers with a handful of tabs and a couple of applications, you'll be fine so long as you understand that switching tasks will take a second or two to catch up with you.