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The LM555-CN is an 8 pin IC timer. It is a highly stable IC for generating accurate time delays, oscillation, pulse generation, and even as a flip-flop element. The first LM555 was established in 1971, and has been in use ever since because of its affordable price and stability.
With a monostable operation, the delay is controlled by one external resistor and one capacitor. With an astable operation, the frequency and duty cycle are precisely controlled by two external resistors and one single capacitor.