A FireWire connector, also known as IEEE 1394, is an interface standard for a serial bus allowing high-speed communications and isochronous real-time data transfer. FireWire was developed in the 1980s by Apple but is also known by Sony (i-Link) and Texas Instruments (Lynx).
The cable contains copper wire which carries the power allowing devices with moderate power usage to operate with no need for a separate power supply. FireWire is similar to USB.
Benefits of FireWire
Can connect up to 63 peripherals in a tree or daisy chain topology
Allows peer to peer device communication
Supports multiple hosts per bus
Supports plug and play and hot swapping
Capable of safely operating critical systems
Asynchronous and isochronous transfer methods supported
Applications
FireWire connectors can be used with some Apple devices such as, early versions of iPods and iPod nano.
Camcorders which recorded to tape have a FireWire interface. The connector can support remote control play/rewind functions and can stream the time code from a camera.
FireWire can also be used for games consoles and ad-hoc computer networks however most new computers and consoles do not support these types of connectors.