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jsonstein@masto.deoan.org ("Jeff Sonstein") wrote:

"Core memory uses toroids (rings) of a hard magnetic material (usually a semi-hard ferrite) as transformer cores, where each wire threaded through the core serves as a transformer winding. Two or more wires pass through each core. Magnetic hysteresis allows each of the cores to "remember", or store a state."

https://en.wikipedia.org/wiki/Magnetic-core_memory