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Gigabit Internet service transmits data up to 1 Gigabit per second (Gbps), or 1,000 megabits per second.
Internet speed is measured by looking at three different ways that data is transmitted: download speed, upload speed and latency.
Upload is also measured in Mbps. It’s the rate used to measure how fast you can upload a file to the Internet from your device. This number is typically lower but higher numbers are good too. If you have a high-speed connection like fiber to your house or business, it can be as fast as the download speed.
Latency is how quickly data is moved across a network from point a to b. The lower the number, the better.

A byte measures the amount of storage available on computing devices such as tablets, smartphones, laptops, gaming consoles, cloud storage or other hardware devices. A gigabyte is roughly one billion bytes. In terms of memory space, one gigabyte of space would hold approximately 312 MP3 songs, or 535 ebooks (based on the average 1.87 MB Kindle ebook file size). 

The Internet delivers bytes of data over the network, but it delivers them as single bits at a time. Hence, this is why Internet speed is measured in bits—it’s more accurate to measure Internet speed through the number of bits per second that a connection transmits. For further reference, 1 byte is made up of 8 bits.

Giga is a unit prefix (just like mega is) used in computing and telecommunications to denote a quantity. Quite simply, a gigabit connection exponentially delivers many more bits per second than a megabit connection does (1 gigabit=1000 megabits), just like a gigabyte contains exponentially many more bytes of storage space than a megabyte does (1 gigabyte=1000 megabytes).