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Contraction of BinarY digiT Eight, a unit of storage capable of holding a single character. A byte is equal to 8 bits. Computer storage space is measured in bytes. A Kilobyte (or 1 K) represents 1024 bytes and a Megabyte (1 Mb) represents one thousand kilobytes, or one million bytes. For example, a computer that has 256 KB main memory can store approximately 256,000 bytes (or characters) in memory at one time. Kilobyte is usually abbreviated as K or KB. A megabyte is 1,048,576 bytes, but it is often used loosely as a synonym for one million bytes. Megabyte is frequently abbreviated as M or MB. A gigabyte is equal to 1,024 megabytes.Gigabyte is often abbreviated as G or GB.