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difference between serial and parallel transfer
Following up from what eternal_nan said - it's called "data skew". This is when minute timing differences in parallel cables cause data to arrive out of sync - so you can't speed it up indefinitely. Thus, people choose serial, which requires less...
Re: current regulation (AC)
If you're using it for circuit protection, use a fuse - it's always worthwhile unless it's going to blow a lot - in which case a polyswitch as mentioned or a circuit breaker.
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