Superconductivity is the phenomenon where the resistance to current flow in a material drops to zero. This means that there will be no loss of energy due to heat generation when current flows through the superconductor. Since resistive heat losses are one of the main limitations associated with any current-generated devices, superconductors open up enormous possibilities for technology that could revolutionize our lives. Unfortunately this phenomenon, first discovered by Heike Kamerlingh Onnes in 1911, only seemed to work at extremely low temperatures close to absolute zero that required cooling with liquid helium, making it impractical for everyday use.
Creating materials that would be superconducting at room temperatures became the Holy Grail of this area of research and a big breakthrough came in 1986 when materials were found that were superconducting at around 90K (-183C) which could be reached using liquid nitrogen. Even higher temperature superconducting materials at about 203K (-77C) have been found but that required enormous pressures, of about 106 times atmospheric pressure.
Recent papers by a research team headed by Ranga Dias and Ahskan Salamat at the University of Rochester have claimed that they have found materials that are superconducting at temperature of 294K (17C) and at a pressure of 10 kbar or ten thousand times the atmospheric pressure. This is big news.
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