time-sharing
/TIME-shair-ing/ · noun · Hacker Culture · Origin: 1961
Definitions
An operating system technique that allows multiple users to interact with a computer simultaneously by rapidly switching the processor between tasks, giving each user the illusion of dedicated access. Time-sharing was revolutionary in the 1960s and is the conceptual ancestor of modern multitasking and cloud computing.
In plain English: A way of sharing one computer among many users at the same time, invented in the 1960s — basically the great-grandparent of cloud computing.
Example: Before time-sharing, you'd submit your program on punchcards and wait hours for results. Afterward, you could type commands and see responses in seconds.