From Diablo Wiki
Live refers to the current version of Diablo 3 that is live on the servers for public play. Other versions of the game may include the internal testing version, beta test versions, the PTR version, demo versions at gaming shows, and so on.
Developers commonly use the term "live" during interviews or discussions of new or upcoming features, which are by definition *not* the live version.
- See other Reference terms.
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