BLACK HOLE TIME. “There are two kinds of clocks we can appeal to in studying the growth of wormholes. The first are clocks external to the CFT; in other words clocks which are not themselves part of the CFT. They can have unlimited accuracy for arbitrary lengths of time. One interpretation of the volume is that it is equal to the age of the black hole (as recorded by the boundary clock), multiplied by the area of the horizon.” (CFT = a thermal state of a boundary).
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