Etymology
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spool (n.)

early 14c., "wheel for winding thread upon," from Old North French spole, espole "a spool" (13c.), from Middle Dutch spoele "a spool," from Proto-Germanic *spolon (source also of Norwegian and Swedish spole, Old High German spuola, German Spule "a spool, bobbin"), from PIE root *spel- (1) "to cleave, split" (see spoil (v.)).

spool (v.)

c. 1600, from spool (n.). Related: Spooled; spooling; spooler (1550s).

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Definitions of spool
1
spool (v.)
transfer data intended for a peripheral device (usually a printer) into temporary storage;
spool (v.)
wind onto a spool or a reel;
2
spool (n.)
a winder around which thread or tape or film or other flexible materials can be wound;
Synonyms: bobbin / reel
From wordnet.princeton.edu