TIS-B

AcronymDefinition
TIS-BTraffic Information Service Broadcast
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In either case, the location information displayed (via TIS-B) will be 3 to 13 seconds old.
* TIS-B does not change the pilot's basic authority and responsibility to ensure a safe flight (i.e., not colliding with another aircraft).
It's important to understand that TIS-B refers specifically to traffic information that is transmitted from an ADS-B ground station, or ADS-R (the R being a traffic data repeater from the ground station).
As the nearest ADS-R ground station is 10 miles away from my home airport (Pompano Beach Airport in Florida), and possibly because my TIS-B transponder antenna is on the bottom of the aircraft, I can't see aircraft in the vicinity while I'm on the ground using TIS-B.
I've been flying with TIS-B for a couple of years now and there's no question it identifies nearby traffic.
A carrot to upgrade early to ADS-B is TIS-B. Traffic Information Service-Broadcast is similar to the TIS that didn't warrant funding.
Another thing to think about if you're tempted to use your EFB or panel-mounted display for all your traffic avoidance needs is the fact none of the TIS-B information is FAA approved as, for example, a TCAS replacement.
But you'll have to keep your transponder and you won't get any traffic (TIS or TIS-B) unless you have an appropriate display.
There's also the issue of whether TIS-B data generated by 978 UAT-equipped aircraft will be displayed on a 1090 ES-only system.
Today, a plethora of vendors support portable FIS-B in-flight weather systems, some even with TIS-B traffic.