The Interactive Glossary: Defining the Net
VoIP

VoIP (Voice over Internet Protocol) is a technology that allows phone calls to be made over the Internet, virtually eliminating long distances charges, so you can call almost anywhere in the world for the price of a local call.
With VoIP, your voice is digitized, and then broken into small data packets. The packets travel to their final destination over the Internet where they are reassembled into a "voice." This is the same process used for sending e-mail.
Learn more: Talk is Cheap with Internet Telephony