The ring oscillator is a member of the class of time-delay oscillators. A time-delay oscillator consists of an inverting amplifier with a delay element between the amplifier output and its input. The amplifier must have a gain greater than 1 at the intended oscillation frequency. Consider the initial case where the amplifier input and output voltages are momentarily balanced at a stable point. A small amount of noise can cause the amplifier output to rise slightly. After passing through the time-delay element, this small output voltage change will be presented to the amplifier input. The amplifier has a negative gain of greater than 1, so the output will change in the direction opposite to this input voltage. It will change by an amount larger than the input value, for a gain greater than 1. This amplified and reversed signal propagates from the output through the time-delay and back to the input where it is amplified and inverted again. The result of this sequential loop is a square-wave signal at the amplifier output with the period of each half of the square wave equal to the time delay. The square wave will grow until the amplifier output voltage reaches its limits, where it will stabilize. A more exact analysis will show that the wave that grows from the initial noise may not be square as it grows, but it will become square as the amplifier reaches its output limits.