The acronym 'VoIP' stands for Voice over Internet Protocol. This technology allows users to make voice calls using the internet instead of traditional telephone lines. By converting analog voice signals into digital data packets, VoIP enables more flexible and cost-effective communication. Key benefits include lower call costs, especially for long-distance calls, and the ability to integrate with other digital services, such as video conferencing and messaging. VoIP is widely used in both personal and business settings, revolutionizing how people connect and communicate.