The name stands for Wireless Fidelity. What Wi-Fi means is it stands for a certain standard of networking which is 802.11b. Which gives it a standard speed of data, what components to use to make a Wi-fi network. It also means that the 802.11b has passed the certifiation of the Wi-Fi alliance. Look up 802.11b on the internet and you'll get some good information.
Pein's fullname is never revealed. Pein is really Nagato, and just an alias that was created.
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