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Water proof Temprature sensor NTC
This temperature sensor is based on a thermistor. A Thermistor is a temperature dependent resistor. The Thermistor used here is of the type NTC (Negative Thermal Coefficient). This means that the resistance of this thermistor decreases as the temperature increases.
Circuits with thermistors can have reasonable output voltages - not the millivolt outputs thermocouples have. Because of these qualities, thermistors are widely used for simple temperature measurements. They're not used for high temperatures, but in the temperature ranges where they work they are widely used.