Bitrate vs Arbitration - What's the difference?
bitrate | arbitration |
(computing, telecommunications) The frequency at which bits (binary digits) pass a given physical or metaphorical point, measured in bps (bits per second).
The act or process of arbitrating.
A process through which two or more parties use an arbitrator or arbiter in order to resolve a dispute.
In general, a form of justice where both parties designate a person whose ruling they will accept formally. More specifically in Market Anarchist (market anarchy) theory, arbitration designates the process by which two agencies pre-negotiate a set of common rules in anticipation of cases where a customer from each agency is involved in a dispute.