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https://en.wikipedia.org/wiki/8b/10b_encoding

The encoding takes 8 bits and turns them into 10 for DC balance and to help the clock recovery system. You are basically losing 20% of your bandwidth to encoding overhead.

PCIE Gen 3 and above have switched to 64b/66b encoding for less overhead.

https://en.wikipedia.org/wiki/64b/66b_encoding




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