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TTFB is impacting the user experience and SEO rankings. In Magento 2 Page Speed Optimization, TTFB involves reducing the server response time before the browser starts loading content. This can be achieved through various methods like server-side caching, code optimization, and using a content delivery network (CDN). By improving TTFB, Magento 2 sites can deliver faster loading times, leading to higher customer satisfaction and better search engine visibility.

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