In today’s world, the word MP3 has become synonymous with music. Almost everyone has experienced MP3 in some way – be it through listening to your favourite songs on your music player or phone, the internet, a podcast or something similar. MP3 has revolutionized the digital music world on its own and even though it’s been around for quite some time, the MP3 still remains the most popular form of music used across the globe.But first, what exactly is MP3? The MP3 format is basically an audio-specific format which uses a compression system to reduce the size of music files. MP3 stands for MPEG Phase 1 Layer3. Now, even though it’s something that we use on a daily basis, have you ever wondered how it works? Well, this article aims to inform you about that as well as the basic principles involved in the process.