What does $\{0, 1\}^*$ mean?

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I am reading about Polynomial probabilistic time (PPT) and the input is taken from space $\{0, 1\}^*$ and I am not able to understand how is this working.

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The notation $\{0,1\}^*$ refers to the space of finite strings in the alphabet $\{0,1\}$, including the empty string.