wp-cron refers to a WordPress subsystem that allows for the scheduled execution of code

wp-cron is a cron-like mechanism in the WordPress core that allows theme and plugin authors to schedule the execution of code. Code can be scheduled one time or as a repeated event-- for example, "daily" or "hourly".

wp-cron jobs do not execute on a precise schedule. They are triggered by user visits to the site and thus a wp-cron job will execute at the first page load after the nominal scheduled time.

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