A CCS-style calculus of dataflow networks with a standard structural operational semantics is defined. A version of weak bisimulation equivalence, called buffer bisimilarity, is defined for this calculus, and its equational theory is investigated. The main result is a completeness theorem for proving equations valid under buffer bisimilarity. The axioms have a familiar, category-theoretic flavor, in which a dataflow process with m input ports and n output ports is represented by an arrow from m to n in a category whose objects are the finite ordinals.
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