A more thorough explanation:

Single transferable vote is a preferential voting system where voters rank candidates in order of preference. Under this system, a candidate wins if they reach the required number of votes, also known as the threshold. If no candidate reaches the threshold, the candidate with the least number of votes is eliminated, and their votes are transferred to the next preferred candidate on each ballot. This process continues until enough candidates reach the threshold or the number of surviving candidates equals the number of representatives still to be elected.

For example, in an election with five candidates and three seats, a candidate needs to reach one-third of the total votes plus one to win. If a candidate receives more votes than needed, the excess votes are transferred to the next preferred candidate. This system ensures that each vote counts towards a winning candidate and reduces the number of wasted votes.