Crypto Terms:
Letter B
What is Bit (Computing)?
Meaning:
Bit (Computing) -
Bit – a basic unit of information, the smallest unit in computing.
Let's find out Bit (Computing) meaning, definition in crypto, what is Bit (Computing), and all other detailed facts.
In computing, a bit represents a basic unit of information. It is a contraction of the words “binary digit”. A bit represents a logical state with one of two possible values, 0 and 1.
Bits can be grouped into bytes, bit multiples that are used to store data and execute commands. One byte consists of eight bits. Four bits make up a unit known as a nibble. Information is normally processed on the byte level at the minimum. One byte can store one ASCII character.
A larger multiple, containing 1,024 bytes, is called a kilobyte. Computers use binary math, also known as the base two system, rather than decimal math. Larger units are megabytes, containing 1,048,576 bytes, and gigabytes that consist of 1,073,741,824 bytes. Some devices measure memory in terabytes or 1,099,511,627,776 bytes.
For the sake of simplicity, some hard drive manufacturers use the decimal system to define the storage space of their devices. In this case, 1 megabyte is defined as equal to one million bytes.
Satoshi Nakamoto<\/strong><\/a> who believed that financial transactions can be successfully executed without the need of a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-intermediary-middleman/">middleman. Being the first cryptocurrency, Bitcoin also mined the first block also known as <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-genesis-block/">the genesis block<\/strong><\/a>.<\/p>\n<p>However, the term Bitcoin is often misused when referring to a distributed public ledger, a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-blockchain/">blockchain, or a protocol.<\/p>\n<p>Bitcoin’s decentralized public ledger is what <strong>enables <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-peer-to-peer-p2p/">peer-to-peer transactions<\/strong>. Each transaction is available to be accessed by anyone without compromising the anonymity of the sender and receiver. It is also known as the blockchain. In essence, a blockchain is a system that allows recording transactions in a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-trustless/">trustless manner. Meaning users don’t have to trust a third party to ensure the transaction has been completed successfully. It’s done purely through code and mathematical algorithms.<\/p>\n<p>Blockchain technology and <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-cryptography/">cryptography act as a sort of shield against fraud and other malicious attacks.<\/p>\n<p>Until 2014, Bitcoin was the name of <strong><a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-open-source/">open-source <strong>client software<\/strong> that was changed to <strong>Bitcoin<\/strong> <strong>Core<\/strong> to make sure people don’t get the wrong idea.<\/p>","definition":"the first-ever cryptocurrency.","status":"published","meta_title":"What is Bitcoin? Definition & Meaning | Crypto Wiki","meta_description":"Bitcoin meaning: Bitcoin - the first-ever cryptocurrency.","meta_keywords":null}"
:prev-section="{"id":98,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Bitcoin","level":"easy","author_id":1,"created_at":"2023-06-19T06:58:59.000000Z","updated_at":"2024-01-01T08:25:17.000000Z","slug":"what-is-bit-bitcoin","title":"What is Bit (Bitcoin)?","section":"B","keyword":"Bit (Bitcoin)","content":"<p><strong>Bit<\/strong>, in the context of cryptocurrencies, is <strong>the smallest unit<\/strong>, or subdivision, of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-bitcoin-btc/">Bitcoin (BTC)<\/strong><\/a>. In exchange transactions, Bitcoin is often used in subdivisions. As a single Bitcoin costs around $40,000 at the time of writing, it is more common to purchase or sell it in smaller subunits.<\/p>\n<p>Bitcoin was designed using a specific decimal system that allows the digital currency to be divided into eight decimal points. The smallest Bitcoin fraction is 0.00000001, called <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-satoshi-sats/">Satoshi (SAT)<\/strong><\/a>, named after the pseudonym of the cryptocurrency’s creator, <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//who-is-satoshi-nakamoto/">Satoshi Nakamoto<\/strong><\/a>. 100,000,000 Satoshis make up a single Bitcoin.<\/p>\n<p>Some of the other Bitcoin units are <strong>microbit (µBTC)<\/strong> at 0.000 001 BTC, <strong>centibit (cBTC)<\/strong> at 0.01 BTC, and <strong>decibit (dBTC)<\/strong> at 0.1 BTC. Some units go over the value of one Bitcoin, like the <strong>decabit (daBTC),<\/strong> which is worth 10 BTC, or <strong>megabit (MBTC)<\/strong> which is the equivalent of 1 000 000 BTC.<\/p>\n<p>The divisibility of Bitcoin makes it a versatile cryptocurrency. Users are able to utilize it for micropayments as well as large-scale transactions.<\/p>\n<p>The subdivisions of Bitcoin make the digital currency easy to understand. It can be expressed to two decimal places, like 10.99, making it visually comprehensible. As the popularity of Bitcoin grows, more people are likely to possess smaller fractions of bits to use for everyday transactions.<\/p>","definition":"a unit of a single Bitcoin.","status":"published","meta_title":"What is Bit (Bitcoin)? Definition & Meaning | Crypto Wiki","meta_description":"Bit (Bitcoin) meaning: Bit (Bitcoin) - a unit of a single Bitcoin.","meta_keywords":null}"
:model="{"id":89,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Bit","level":"easy","author_id":1,"created_at":"2023-06-19T06:58:59.000000Z","updated_at":"2024-01-01T08:25:25.000000Z","slug":"what-is-bit-computing","title":"What is Bit (Computing)?","section":"B","keyword":"Bit (Computing)","content":"<p>In computing, a <strong>bit<\/strong> represents a basic unit of information. It is a contraction of the words “binary digit”. A bit represents a logical state with one of two possible values, 0 and 1.<\/p>\n<p>Bits can be grouped into <strong>bytes<\/strong>, bit multiples that are used to store data and execute commands. One byte consists of eight bits. Four bits make up a unit known as a nibble. Information is normally processed on the byte level at the minimum. One byte can store one ASCII character.<\/p>\n<p>A larger multiple, containing <strong>1,024 bytes<\/strong>, is called a kilobyte. Computers use binary math, also known as the base two system, rather than decimal math. Larger units are megabytes, containing <strong>1,048,576 bytes<\/strong>, and gigabytes that consist of 1,073,741,824 bytes. Some devices measure memory in terabytes or 1,099,511,627,776 bytes.<\/p>\n<p>For the sake of simplicity, some hard drive manufacturers use the decimal system to define the storage space of their devices. In this case, 1 megabyte is defined as equal to one million bytes.<\/p>","definition":"Bit \u2013 a basic unit of information, the smallest unit in computing.","status":"published","meta_title":"What is Bit (Computing)? Definition & Meaning | Crypto Wiki","meta_description":"Bit (Computing) meaning: Bit (Computing) - Bit \u2013 a basic unit of information, the smallest unit in computing.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"<p>Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.<\/p>\n<p>With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\n<p>Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\n<p>Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}"
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current-chapter="B"
current-section="what-is-bit-computing">
