Exponential Backoff is a strategy where retries are made with increasing time intervals.
Exponential Backoff is used to prevent systems from being overwhelmed by retry requests. Instead of retrying immediately, each subsequent attempt waits for a longer period of time, usually doubling with each attempt. This approach helps to reduce load on the system and gives services time to recover. For example, if a payment service fails, the retries might initially wait 1 second, then 2 seconds, then 4 seconds, and so on.