Phase-shift keying (PSK) is a digital modulation technique that conveys data by changing the phase of a carrier wave. There are several types of PSK including binary PSK (BPSK) and quadrature PSK (QPSK). BPSK uses two phases separated by 180 degrees to transmit 1 bit per symbol, while QPSK uses four phases separated by 90 degrees to transmit 2 bits per symbol for higher data rates. PSK has advantages like more efficient data transmission compared to frequency-shift keying. However, it is non-coherent and more prone to incorrect demodulations. PSK finds applications in optical communications, local oscillators, and delay-and-add demodulation.