Flash Memory, or Flash RAM is actually a form of ROM.

It is a non-volatile memory, that will store data until the data is changed, and will retain its data without power. It is slower than DRAM - Dynamic RAM, or true ROM, and the process of writting to it is more complicated.

Flash RAM used to be pretty expensive, but now it is being used in a multitude of Cameras, Phones, PDA's, and many of the firmware chips in your PC - the prices have fallen dramatically compared with around 5 to 10 years ago.

Flash Cards are becoming prevalent, and look set to replace the Floppy Disk once and for all.