The Typing speed plugin tracks and displays the user's typing speed in the status bar of Obsidian. It provides the option to view typing speed in characters per second (CPS), characters per minute (CPM), or words per minute (WPM). This functionality allows users to monitor and analyze their typing performance in real time while taking notes. The simple and lightweight design of the plugin ensures seamless integration into the Obsidian interface, making it a useful tool for users looking to boost their productivity or improve their typing efficiency.