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Code 127 is officially named "delete" but the Teletype label was "rubout". Since the original standard did not give detailed interpretation for most control codes, interpretations of this code varied. The original Teletype meaning, and the intent of the standard, was to make it an ignored character, the same as NUL (all zeroes). This was useful specifically for paper tape, because punching the all-ones bit pattern on top of an existing mark would obliterate it. Tapes designed to be "hand edited" could even be produced with spaces of extra NULs (blank tape) so that a block of characters could be "rubbed out" and then replacements put into the empty space.

What was code 127 labeled as for the Teletype?
rubout