Saltatory conduction is the propagation of action potentials (nerve signals) along axons that occurs by jumping from one node of Ranvier (gap between myelinated sections of axon) to the next. (Saltare means "to hop" or "to jump")
By jumping from one node to the next, this increases the conduction velocity, allowing the signal to travel faster.
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There are a couple of things that happen during saltatory conduction. The main thing is action potentials being propagated from one node of Ranvier to the next node along the myelinated axons.
Travels along the surface of a neuron's plasma membrane. If the traveling impluse encounters a section of membrane covered with insulating myelin, it simply "jumps" around the myelin..