Explanation:
The "exponential backoff" retry strategy is a technique for retrying failed operations in a manner that avoids overloading the system being accessed. It works by increasing the amount of time that is waited between each retry attempt, using an exponential function to calculate the wait time.
For example, with a coefficient of 2.0 and an initial retry interval of 1 second, the wait times between retries might be 1 second, 2 seconds, 4 seconds, 8 seconds, and so on. This allows the system being accessed to recover from any failures or load spikes before the next retry attempt is made, reducing the likelihood of further failures.