In a byte addressed space with 32-bit addressing, it takes up 32 bits of memory to reference 8 bits?
So the addressing is the major portion of Memory?
Am I conceptualizing this correctly?
No. It takes 32 bits to reference a contiguous region of any size. If you have a 1 megabyte buffer, you're not going to store a pointer to every byte inside it, you'll just store a pointer to the beginning of it.