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A nanochip is an electronic integrated circuit so small that it can only be measured properly in the nanometer scale. Although current technology is able to create chip components in the nanometer scale, it is still not possible to make the complete chip in nanometer scale. For this to become reality, each component of the chip has to be created in the atomic scale, meaning each atom of the material has to be manipulated to form the smaller components of the nanochip.
The nanochip scale has long been the goal of modern technology. With nanochips it would be possible to have computers the size of micro SD cards but thousands of times more powerful because so many more components could fit in a very small space. The manufacturing costs would also be very minimal and the energy required to run them would be minuscule.
However, currently the term nanochip is used to refer to current microchips that are manufactured using nanometer processes, other small devices such as the nanosim card, and the term is even the name of a microchip manufacturing company, NanoChip, Incorporated.
A real nanochip will be measured in nanometers for the entire package and not just the individual components, such as transistors, themselves.