Hash format and cost factor
The output is a 60-character string: a version tag ($2a$, $2b$, or $2y$), a two-digit cost between 4 and 31, then a 22-character salt and a 31-character hash, both encoded in bcrypt's own base64-like alphabet. Cost sets the number of key-setup rounds to 2^cost, so raising it by one roughly doubles the time needed to generate or verify a hash.