Does full erase create all 0s or all 1s on the CD-RW?

Disclaimer: there was this question, it was deleted before I managed to post an answer. Since I put effort in creating my answer and I don't want it to go down the drain, I re-post the question here.

Original question:

I am searching the Net but not exactly getting the references. I have also read https://en.wikipedia.org/wiki/CD-RW

I know the very basic difference between Quick Erase & Full Erase when it comes to Rewritable CDs (CD-RW).

However what I want to know is that:

1. Does full erase create all 0s or all 1s on the media?
2. During Full Erase (Preferably on Windows) is there any way I can specify if it should be all 0 or all 1 the CD-RW?