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Comparing libev/README (file contents):
Revision 1.11 by root, Fri Nov 2 15:56:19 2007 UTC vs.
Revision 1.12 by root, Sun Nov 4 01:42:05 2007 UTC

25 25
26- timers can be repeating (both absolute and relative ones). 26- timers can be repeating (both absolute and relative ones).
27 27
28- detects time jumps and adjusts timers 28- detects time jumps and adjusts timers
29 (works for both forward and backward time jumps and also for absolute timers). 29 (works for both forward and backward time jumps and also for absolute timers).
30
31- can correctly remove timers while executing callbacks
32 (libevent doesn't handle this reliably and can crash).
33 30
34- race-free signal processing 31- race-free signal processing
35 (libevent may delay processing signals till after the next event). 32 (libevent may delay processing signals till after the next event).
36 33
37- less calls to epoll_ctl 34- less calls to epoll_ctl

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