'Latency is the time taken for a sent packet of data to be received at the other end. It includes the time to encode the packet for transmission and transmit it, the time for that data to traverse the network equipment between the nodes, and the time to receive and decode the data. This is also known as "one-way latency". A minimum bound on latency is determined by the distance between communicating devices and the speed at which the signal propagates in the circuits (typically 70-95% of the speed of light). Actual latency is much higher, due to packet processing in networking equipment, and other traffic. '