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How do we measure speed?

Internet speed can be broken down into three distinct categories: download speed (the speed a user can retrieve something from the Internet), upload speed (the speed a user can send something to a remote location on the Internet) and latency (the lag or length of time that occurs between each point during information transfer). Download and upload speeds are measured in the number of bits (or bytes) per second transferred, while latency is measure in milliseconds (or thousandths of a second)