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WiFi is the nickname for Wireless Fidelity - high speed internet and network connection without the use of wires, cables and other stuff you can trip over.
The term Wi-Fi was coined in 1999, with the Wi apparently standing for wireless. It is suggested that the Fi is a play on the term Hi-Fi, or high fidelity, but the Fi in Wi-Fi does not stand for fidelity and was simply the name chosen by the Wi-Fi Alliance. The Wi-Fi Alliance is a global non-profit association of companies that control Wi-Fi products and services.