PTP, or Precision Time Protocol, is a network protocol used to synchronize clocks throughout a computer network. It is designed to achieve high accuracy in timekeeping, often within the sub-microsecond range. PTP is commonly used in applications where precise timing is crucial, such as in telecommunications, financial transactions, and industrial automation. The protocol operates by allowing a master clock to send timing information to slave clocks, which adjust their time accordingly. PTP is defined in the IEEE 1588 standard and is often implemented in Ethernet networks to enhance synchronization compared to other protocols like NTP (Network Time Protocol).