The standard notation, also called canonical format, for MAC addresses is written in transmission bit order with the least significant bit transmitted first.
IEEE 802.3 (Ethernet) and IEEE 802.4 (Token Bus) send the bytes (octets) over the wire, left-to-right, with least significant bit in each byte first, while IEEE 802.5 (Token Ring) and IEEE 802.6 send the bytes over the wire with the most significant bit first
An address in canonical form 12-34-56-78-9A-BC would be transmitted over the wire as bits 10000100 00101100 01101010 00011110 01011001 00111101 in the standard transmission order (least significant bit first).
But for Token Ring networks, it would be transmitted as bits 00010010 00110100 01010110 01111000 10011010 10111100 in most-significant-bit first order. The latter might be incorrectly displayed as 48-2C-6A-1E-59-3D. This is referred to as bit-reversed order, non-canonical form, MSB format, IBM format, or Token Ring format. Canonical form is generally preferred, and used by all modern implementations.