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A chat acronym is a type of acronym that has emerged as a form of shorthand in text messages, online chat and even email. Chat acronyms go by many other names, like Internet slang or shorthand, netspeak or chatspeak. These abbreviations have mostly developed through common use, and they allow users to communicate more quickly and concisely, especially over mobile devices or other forums in which limiting character use is important.
Chat acronyms often apply not to esoteric IT concepts, but to real-life situations, where they're used as a means of expressing a user’s emotions. For example, some of the most popular chat acronyms include LOL (laughing out loud) and ROFL (rolling on the floor laughing). Through the emergence of the Internet as a public means of communication, these and others like IMHO (in my humble opinion) have become very useful shorthand.