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In the US and most developed countries where electricity (Alternating Current) is standardized and there are Codes established for devices used in the transmission and distribution of electricity: the round hole is used to establish a "Ground". The wire connected to the "Ground" (per code) is supposed to be connected, through the distribution system in the structure, to a long steel or copper rod driven deep into the ground(earth). This provides a "Safe" path for the electricity to travel in the event of a short circuit or other dangerous interconnection of the wire(s) carrying the electricity.

Hence the safety provided by a "Ground Fault Interrupter" or GFI. When any device is plugged in to a GFI and an unsafe path to ground is detected, such as through water, or worse, your body, the GFI "trips" (opens) the circuit quickly to prevent an electrical shock. Imagine dropping your electric razor, radio, blow dryer, etc. into water.

Direct Current (DC) requires no such connection as it is generally lower voltage (< 60v) and does not provide enough of a shock to stop the human heart. It is unfortunate in many ways that the US not only adopted AC but also an alternating cycle of 60Hz as opposed to most countries, especially European, that use 50Hz, which is safer. However, that is a whole different topic involving a battle between Michael Faraday and Nikola Tesla.

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