Like LocalTalk, the theoretical maximum speed for data transfer was 230 kbit/s, and it is generally used in a daisy chain topology.
Unlike LocalTalk's balanced and grounded implementation, PhoneNet used only two wires of the four in a typical cable.
As normal telephone equipment also normally used only two wires, PhoneNet could be plugged into existing phone lines in some instances, allowing both phone calls and networking over a single cable.
Generally this requires some hand-crimping of a cable using three RJ11 jacks, connecting a single jack to two, one with two wires for the phone and the other with the other two for networking.
Though PhoneNet transceivers are still available from third parties for use on legacy Macintosh networks, no current Apple computer or device model comes with the RS-422 serial ports that are required for PhoneNet transceivers. All modern Apple devices network use Ethernet or Wi-Fi or Bluetooth.