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The Precision Time Protocol (PTP), as defined in the 1588 standard, provides a method to precisely synchronize computers over a Local Area Network (LAN). PTP is capable of synchronizing multiple clocks to better than 100 nanoseconds on a network specifically designed for IEEE-1588. A Network Time Server with PTP is typically referred to as an “IEEE-1588 Grandmaster” or “PTP Grandmaster”. This paper describes basic principles of PTP, information on using dual Grandmasters, and the requirements of the network to achieve sub-100 nanosecond time synchronization.

Source: https://endruntechnologies.com/pdf/PTP-1588.pdf