This approach to computer memory will gain popularity because it's counterpart, solid memory storage (like flash memory) becomes less stable at very tiny scales. PCM memory doesn't rely on the charge of electrons. In recent experiments, PCM memory actually improves the smaller it becomes, because it's speed is linked to the size of it's crystals. In recent experiments these crystals could be engaged (from a off to on state -- melt and refreeze the crystal ) in just 16 nanoseconds. This is far faster than existing technology.
Reference:
Nanosecond switching in GeTe phase change memory cells, Appl. Phys. Lett. 95, 043108 (2009); doi:10.1063/1.3191670
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