Synchronization in multimedia involves two concepts which are often confused: <strong>clock</strong> (or speed) and <strong>time</strong> (location in time).
In the audio world this is generally referred to as <ahref="http://en.wikipedia.org/wiki/Word_clock"title="http://en.wikipedia.org/wiki/Word_clock">Word Clock</a>.
Word clock is usually at the frequency of the sample rate - ie at 48KHz, its period is about 20μs. Word Clock is the most common 'sample rate' based clock but other clocks do exist such as Black and Burst, Tri-Level and DARS. Sample rates can also be derived from these clocks as well.
Time – or <em>timecode</em>– on the other hand specifies an absolute relationship or position on a timeline e.g. <code>01:02:03:04</code> (expressed as Hours:Mins:Secs:Frames). It is actual <em>data</em> and not a clock <em>signal</em> per se.
The granularity of timecode is <strong>Video Frames</strong> and is an order of magnitude lower than, say, Word Clock which is counted in <strong>samples</strong>. A typical frame rate is 25 fps with a period of 40ms.
In the case of 48KHz and 25fps, there are 1920 audio samples per video frame.
If two interfaces run at different clocks the only way to align the signals is via re-sampling (SRC - Sample Rate Conversion) - which decreases fidelity.
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Timecode is used to align systems already synchronized by a clock to a common point in time, this is application specific and various standards and methods exist to do this.
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NB. to make things confusing, there are possibilities to synchronize clocks using timecode. e.g. using mechanism called <em>jam-sync</em> and a Phase-Locked-Loop.
An interesting point to note is that LTC (Linear Time Code) is a Manchester encoded, frequency modulated signal that carries both 'Clock' and 'Time'. It is possible to extract absolute position data and speed from it.