If you’re like me, you failed to grasp the importance of this recent report in the New York Times. Much like the prediction of new elements using the periodic table, in the 1970s an engineer named Leon Chua predicted the existence of a fourth circuit element (the first three are resistors, capacitors, and inductors) that he called memristors — resistors with a memory. Their resistance varies depending on their history.
A few years ago Hewlett-Packard researchers studying titanium oxide found puzzling results that turned out to be due to memristors. Only at very small sizes, they found, does memristance become large relative to other effects. How easily you can walk through a room depends on where the furniture is. Memristors involve moving the furniture (atoms). If these new devices can be made practical (e.g., fast enough), they will provide memory much smaller and more power-efficient than current devices. But it’s hard to predict the impact of this discovery — it’s like discovering a new dimension.