IBM has announced that they are developing a brand new type of memory known as racetrack. They have promised it will be 100,000 times faster than even flash memory.
Racetrack will be a solid-state memory and will be faster and cheaper than current hard drives and flash memory.
It will be able to read 16 bits of data on one transistor, allowing for it to be manufactured without much cost.
It stores data on atoms in magnetic nanowires.
The electrical charges move along a U-shaped pipe of sorts, as data is written and read quickly. It is also unbreakable as there are no moving parts, and it never wears out.
IBM stated they hope to have a prototype ready within 2 to 4 years, with mass production possibly within 7 years.
The prototype solid-state drive could hold terabytes of data.