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They serve as both storage and RAM in remote sensors and similar devices but not as the main memory in computers, phones and tablets because they are more costly (see non-volatile memory).
For decades, the goal has been to create a random access memory (RAM ... used as caches and as main memories in small devices, NAND flash storage chips are always getting faster, more dense ...
To put this achievement into perspective, PoX can perform 25 billion operations per second – surpassing the previous world record for similar technology by a factor of 100,000.