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In dumb man's terms (that's what I understand, LOL) a cron job is added by your host (it's always easier to ask them to do it) to the server to tell a particular script to do something at a specific time.
For example a tgp script can have a cron that will update it at midnight or 3am each and every day. As sparky said, blogs automater has one that tells the blog to update.
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