[android-developers] how to connect two android devices ?

What are the options to connect (create stream? or send datagrams?)
between two android devices?
(I know I can use internet, but i think that lag will be big and it's
oversuse to just exchange data between to phones that are nearby).

Is it possible to use bluetooth or wifi ?
so two applications on two devices can connect each other (create bi-
directional stream) and send some data.

Regards,
razor

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