“Latency- is how much time it takes for a packet to reach its destination. Contributors to network latency include: propagation; the time it takes for a packet to travel between one place and another at the speed of light, transmission; the speed of travel over the medium itself (fiber, wireless, copper), routing; each gateway node takes time to examine and possibly change the header in a packet, storage delays; Within networks at each end of the journey, a packet may be subject to storage and hard disk access delays at intermediate devices. and packet size; the size of the data packet introduces delay in a round trip since a larger packet will take longer to receive and return than a short one. Higher delay times can be an issue, especially for VoIP, where voice delay can be recognized with latency higher than 150 milliseconds.
Network latency is often informally used interchangeably with lag.”

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