PSK31 or "Phase Shift Keying, 31 Baud" is a digital radio modulation mode, used primarily in the amateur radio field to conduct real-time keyboard-to-keyboard informal text chat between amateur radio operators
PSK31 was developed and named by English amateur radio operator Peter Martinez (G3PLX) and introduced to the wider amateur radio community in December 1998.
PSK31 was enthusiastically received, and its usage grew like wildfire worldwide lending a new popularity and tone to the on-air conduct of digital communications. Due to the efficiency of the mode, it became, and still remains, especially popular with operators whose circumstances do not permit the erection of large antenna systems and/or the use of high power.
References:
The "Official" PSK31 Homepage
PSK Automatic Propagation Reporter
IRLP on Wikipedia
