Scientists in the U.S.A. have created the world's fastest silicon based microchip which can operate at speed of up to 500Ghz, that is over 100 times faster than standard desktop PC chips. In a bid to break the world record, the team consisting of IBM researchers and the George Institute of Technology had to cool the chip with liquid helium.

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The team believes the device could eventually speed up wireless networks and develop cheaper mobile phones.

"Faster and faster chips open up new applications and reduce costs for existing products," said Professor David Ahlgren of IBM.

At room temperature the experimental chips still managed to outperform standard silicon chips, running at about 350 billion calculations per second.

However, the researchers say they can push them even further.

"We observe effects in these devices at cryogenic temperatures which potentially make them faster than simple theory would suggest," said Professor John Cressler of the Georgia Institute of Technology.

The team believes it is possible to make chips run at 1,000 Ghz, or one Terahertz, at room temperature.