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I think this forum just exists to test our faith in mankind.
Just thinking about all the hours I spent reading data sheets and µC manuals, writing down hundreds of pages of my own findings to keep track of everything, it's depressing to see how little so many people asking questions in this place try.
And then they proudly present their „well working code” full of active waiting, bereft of any interrupt masking, not using register banks (which is probably all right if you don't mind the latency) and completely ignorant of the 8052 memory types (i.e. compiled with the large model).
I shiver at the thought that these people may one day be involved in critical applications and I really hope the people who do the stress testing know what they're doing. Because otherwise people will die.
"can the usart port act as both input as well as output port at the same time. " the problem with your question is that there is no such thing as a USART port. there is a U(S)ART with TWO ports Tx and Rx