A RC time constant circuit uses the charging/discharging cycle of a capacitor through a known resistance to set a repeatable time constant. A single time constant is how long it takes for the capacitor to charge to 63.21% of the final voltage.
https://www.digikey.com/en/resources/conversion-calculators/conversion-calculator-time-constant
In the monostable configuration the 555 timer will produce a single high pulse output per single input event.
https://www.digikey.com/en/resources/conversion-calculators/conversion-calculator-555-timer
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