Check this quote – “It works by storing data in a permalloy nanowire, a thousand times thinner than a human hair,” says IWRBlog, quoting Science.

“It promises to increase reliability and speed of storage while slashing the amount of energy needed to power it.”

Racetrack memory, “would enable a device such as an MP3 player to store about half a million songs – or 3,500 films – and cost far less to produce,” says Times Online.