Reversing a linked list is a common operation where you change the direction of the pointers in the list so that the head becomes the tail and vice versa. In a singly linked list, each node points to the next node in the list, and to reverse this, you need to update each node’s `next` pointer to point to the previous node. The process involves three main steps: initializing three pointers (`prev`, `current`, and `next`), traversing through the list, and adjusting the `next` pointer of each node to point to `prev`. By the end of the traversal, the `prev` pointer will point to the new head of the reversed list. This operation can be done iteratively, and it’s more challenging in a doubly linked list, where you need to adjust both `next` and `prev` pointers. Reversing a linked list is useful in many scenarios, such as undoing operations, navigating backward in a list, or solving problems like palindrome checking in linked lists. In TypeScript, this can be efficiently implemented with O(n) time complexity and O(1) space complexity, as no extra space is required other than a few temporary pointers.