What is 1-bit recording technology?

In a 1-bit system, the audio is recorded at super-high sample rates, commonly 2.8224MHz, and now with the MR-1000, 5.6448 MHz. At thi shigh rate a 1-bit system is able to reproduce frequencies from DC up to 100 KHz, which exceeds all other digital systems and even magnetic tape, which can reproduce up to 50 kHz. At these high rates there is no longer a need for steep filters, which removes a possibly coloring element in the encoding chain.