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In open systems, a virtual terminal (VT) is an application service that (a) allows host terminals on a multi-user network to interact with other hosts regardless of terminal type and characteristics, (b) allows remote log-on by local-area-network managers for the purpose of management, (c) allows users to access information from another host processor for transaction processing, and (d) serves as a backup facility.
Source: from Federal Standard 1037C
ITU-T defines a virtual terminal protocol (VT) based on the OSI application layer protocols, which is not widely used on the Internet.