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Schwann cells are the supporting cells of the PNS. Like oligodendrocytes schwann cells wrap themselves around nerve axons, but the difference is that a single schwann cell makes up a single segment of an axon's myelin sheath.
The major function of oligodendrocytes and Schwann cells is the formation of myelin. Myelin acts as an insulator of axonal segments and is a prerequisite for the high velocity of nerve conduction, of up to 200 m/second. The association of glial cells with axons is also found in invertebrates.