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Short for "virtual wire," refers to a "wireless" connection between two devices performing encrypted communications via radio-frequency transmission (especially in the case of a computer and a wireless access point).
According to my networking professor, the two-way transmission between a wireless NIC and an access point is basically the same as a wire. He even made up a word for it: "v-wire."

In a wireless internet connection, packets are transmitted through a v-wire between the computer and the wireless router or gateway it's connected to.
by mjc-netstudent April 27, 2010
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