The genetic code consists of rules relating DNA and RNA nucleotide sequences to protein amino acid sequences, indicating that the code must employ combinations of nucleotide triplets (codons) to adequately represent 20 amino acids. It is characterized by universality across life forms, being triplet in nature, commaless, unambiguous, and degenerate, allowing for multiple codons to represent the same amino acid with some exceptions. The wobble hypothesis explains the codon-anticodon pairing flexibility, accounting for the genetic code's degeneracy and providing resilience against mutations.