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Image 1:
The ADS channel simulation enables a comparison of PAM-4 versus NRZ technology.
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Image 2:
The example shown here demonstrates the concept of price versus performance in PCB design. Cheaper PCB materials with more loss and no-backdrilling of vias are more likely to exhibit resonances at higher frequencies. This channel may not support NRZ to 56 Gbps, but will support PAM-4 more easily, assuming that the resonances are higher in frequency than the main spectral content of the PAM-4 signal.
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