Nanotechnology describes the study and creation of machines at the nanomolecular level. Scientists are constantly working at making electrical components more efficient. We have been able to significantly up the processing capabilities while at the same time minimizing the space required, as evidenced by Moore's Law, which models the the exponential increase in processing ability as time goes by. This is simply one aspect of nanotechnology.
The implications of nanotechnology are far reaching. One interesting application of nanotechnology currently being researched is using nanotechnology to help in the field of medicine. Nanobots could potentially be used as markers for finding specific types of proteins in the human body, for example, and different nanoparticles could potentially be programmed to switch colors when in contact with certain substances in the human body (Kurzweil, 2006). The idea of using nanotechnology to help people suffering from different medical maladies is another application of nanotechnology. "Nano-built devices will be far more efficient and compact. As ... technologies gain the ability to synthesize chemicals, implantable devices will be able to continuously sense and adjust the body's chemical balance, in the bloodstream or in specific tissues" (CRN, 2008).