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In IP networking TTL is used to indicate how long a packet should be in the network. It's useful in case the packet is undeliverable (due to some reason). The name is confusing because, in modern implementations, it's always a hop count. Each forwarding router must decrease TTL by 1. When a router sees that the TTL for an incoming packet is 0, it is discarded
It gives the time period upto which the packet can stay and roam around in the network.