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Threading is an operating system scheduling mechanism for allowing one CPU/core to execute multiple computations, seemingly in parallel.

The writer of a program that takes advantage of threading first identifies portions of code that can run in parallel because the computations are independent. The programmer assigns some number of threads to that work (usually based on a command-line option) using specific thread and synchronization programming language constructs. An example is the the samtools sort -@ N option to specify N threads can be used for sorting independent sets of the input alignments.

If there are multiple cores/CPUs available, the operating system can assign a program thread to each of them for actual parallelism. But only "seeming" (or virtual) parallelism occurs if there are fewer cores than the number of threads specified.

Suppose there's only one core/CPU. The OS assigns program thread A to the core to run until the program performs an I/O operation that causes it to be "suspended" for the I/O operation to complete. During this time, when normally the CPU would be doing nothing but waiting on the I/O to complete, the OS assigns program thread B to the CPU and lets it do some work. This threading allows more efficient use of existing cores as long as the multiple program threads being assigned do some amount of I/O or other operations that cause them to suspend. But trying to run multiple compute-only, no-I/O programs using multiple threads on one CPU just causes "thread thrashing" -- OS scheduler overhead when threads are suspended for time, not just I/O.

The analogy is a grocery store where there are 5 customers (threads). If there are 5 checkout lines (cores), each customer (thread) can be serviced in a separate checkout line (core). But if there's only one checkout line (core) open, the customers (threads) will have to wait in line. To be a more accurate analogy, the single checkout clerk would handle some part of checkout for each customer, then while waiting for the customer to find and enter credit card information, the clerk would handle a part of a different customer's checkout.

Hyperthreading is just a hardware implementation of OS scheduling. Each CPU offers some number of "virtual cores" (hyperthreads) that can "almost" act like separate cores using various hardware tricks. Typically a core implements 2 hyperthreads, but more are possible.