The Precision Time Protocol (PTP) is a time-transfer protocol defined in the IEEE 1588 2002 standard that allows precise synchronization of networks (e.g., Ethernet). Accuracy within the nanosecond range can be achieved with this protocol when using hardware generated timestamps, although the protocol itself has no quality requirement.
The Institute of Embedded Systems (InES) of the University of Winterthur is addressing the practical...
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http://en.wikipedia.org/wiki/IEEE_1588
11/19/2007