IEEE 488, also known as GPIB or HP-IB, is a digital communications bus standard developed by Hewlett-Packard in the 1960s to connect electronic test and measurement devices. It uses a 24-pin connector and has 16 signal lines for bidirectional communication, bus management, and handshaking between up to 15 connected devices within a maximum distance of 20 meters. Key advantages include its simple hardware interface, ability to connect multiple devices to a single host, and support for mixing slow and fast devices. However, it also has disadvantages such as bulky connectors, lack of early command protocol standards, and high cost.