Steam's voice chat system now leverages the SILK audio codec, developed and used by Skype, makers of the world's most popular voice communication service. The SILK codec provides a significant quality improvement over Steam's previous voice technology, at the cost of some increase in bandwidth usage. Steam Voice used to require 15 kbps of bandwidth, whereas SILK is a dynamic bit rate protocol which varies in its use of bandwidth between 8 and 30 kbps, depending on the range of data in the voice signal and current network conditions.
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Good, because Steam chat is shit.