VOSIP

Voice over Internet Protocol (Voice over IP, VoIP and IP telephony) is a methodology and group of technologies for the delivery of voice communications and multimedia sessions over (IP) networks, such as the Internet. The terms Internet telephony, broadband telephony, and broadband phone service specifically refer to the provisioning of communications services (voice, fax, SMS, voice-messaging) over the public Internet, rather than via the public switched telephone network (PSTN).

The steps and principles involved in originating VoIP telephone calls are similar to traditional digital telephony and involve signaling, channel setup, digitization of the analog voice signals, and encoding. Instead of being transmitted over a circuit-switched network; however, the digital information is packetized, and transmission occurs as IP packets over a packet-switched network. They transport audio streams using special media delivery protocols that encode audio and video with audio codecs, and video codecs. Various codecs exist that optimize the media stream based on application requirements and network bandwidth; some implementations rely on narrowband and compressed speech, while others support high fidelity stereo codecs. Some popular codecs include μ-law and a-law versions of G.711, G.722, a popular open source voice codec known as iLBC, a codec that only uses 8 kbit/s each way called G.729, and many others.

...
Wikipedia