Network telemetry is a key capability for managing the health and efficiency of a large-scale network. Alternate Marking Performance Measurement (AM-PM) is a recently introduced approach that accurately measures the packet loss and delay in a network using a small overhead of one or two bits per data packet. This paper introduces a novel time-multiplexed parsing approach that enables a practical and accurate implementation of AM-PM in network devices, while requiring just a single bit per packet. Experimental results are presented, based on a hardware implementation, and a software P4-based implementation.
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