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While I have heard the term multiple times and I think it means approval from other scientists, I am not very sure about it.
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Yes random scientists from your field do a review and an editor consolidates that into an accept/deny result with potential requirements for revision. But this often can take weeks to months since nobody actually wants to do these reviews and it’s really dependent on who you’ll get as reviewers. So the usual approach is to reapply several times over months if you think your submission is good.
