What specs to look for when buying RAM?

Hello, I am looking to purchase some RAM for my new gaming PC that I am building and I was wondering what to look for when buying RAM. For Instance, I think that the Higher the "MHz" speed, the better, but what other specs should I be aware of/look for (such as latancy) when trying to decide what RAM sticks to purchase? Thank you.
Also, what is the difference between dual channel and triple channel RAM (and is one worth getting over the other)?
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