MP3 is short for either MPEG-1 Audio Layer 3, or Moving Picture Experts Group-1 Audio Layer 3. An MP3 is defined by its file extension, which looks like "filename.mp3".
The MP3 uses an algorithm, or formula, which helps compress the sound with as little sound loss as possible.
The MP3 file type was originally used for voice compression, and was not considered useful for music compression.
An MP3 is a lossy audio format that is compressed to a smaller file size than wav or aiff, which are other standard file formats. This allows for easier transmission over the Internet, when large files are difficult to send.
Using MP3s, independent artists can now promote their music to their own audience without the help of record companies or producers.
MP3 is a poor format for transmitting high-quality audio. The compression format can occasionally eliminate frequencies, which change the sound of your file.