Y2K is an abbreviation for Year 2000. As that year approached, many feared that computer programs storing year values as two-digit figures (such as 99) would cause problems. The problem was that when the two-digit space allocated for "99" rolled over to 2000, the next number was "00". Frequently, program logic assumes that the year number gets larger, not smaller - so "00" was anticipated to wreak havoc in a program that hadn't been modified to account for the millennium. This situation was sometimes referred to as the "Y2K Problem" or the "Millennium Bug".
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