What is it?
A low latency digital wallet is an electronic tool that allows fast transactions with minimal delay.
Tech Understandability: Intermediate
Simple One-Sentence Definition
It enables quick and smooth money transfers.
Analogy or Comparison
Think of it like using a fast lane at a grocery store to pay for your items quickly.
Why it matters?
Low latency increases transaction speed, making it easier to make purchases and transfers on time.
Fun Fact
Some digital wallets can process payments in less than a second.
Related Terms
Digital Wallet: A digital wallet is an app or service that allows users to store and manage their financial information online.
Latency: Latency is the time delay between a user’s action and the system’s response.
Transaction: A transaction is an exchange of goods, services, or funds between parties.
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