The new memory announced today is called "phase-change" memory. The memory would have the same applications as flash memory, but with a a couple key advantages. First of all, the phase-change memory has shown to be faster than flash memory; up to 500 times faster. It would also only consume about half the power that flash memory does, even with the greater speed. Secondly, the phase-change memory is smaller. A cross section of the new memory prototype measures only 3 x 20 nanometers."