A bit (binary digit) is the smallest unit of information in computing.
A group of of 8 bits is called a byte.
Using only 1 and 0 means that we use a Base 2 (binary) counting system in computing. That is, in any given position there are only two options: 0 or 1. Compare this with our everyday Base 10 (decimal) system where any given position can be 0-9.
In Base 2,
20 = 1,
21 = 2,
22 = 4...
00000001
= 1
00000011
= 3
10100001
= 161
When computers interpret instructions they need to know the byte order known as endianness. When the leftmost bit represents the largest value this is known as little endian. When the rightmost bit is the largest value is known as big endian.
Web Assembly reads and writes instructions in little endian byte order.