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The Racetrack memory project, which was initiated in IBM's Research labs six years ago, instead of making computers seek out the data it needs - as is the case in traditional computing systems - automatically moves data to where it can be used, sliding magnetic bits back and forth along nanowire 'racetracks'.
Parkin said that racetrack memory would combine the low cost of a hard drive with the reliability and speed of RAM in a single solid-state device.
The boffins say they think we'll see racetrack memory in the wild within ten years.
Our work in this area will pave the way for next generation 3D memory technolgies such as magnetic racetrack memory and help us to understand magnetic charge transport in novel magnetic materials.
One solution being developed is 'racetrack memory', which uses tiny magnetic wires, each one hundreds of times thinner than a human hair, down which magnetic "bits" of data run like racing cars around a track.