The basic components of electronic circuits are resistors capacitors and inductors. These are the passive elements of an electronic circuit. Without these components a circuit couldn’t work. All the other components of the circuit depend on these components. Researches have been going from the past for introducing a memory element in the circuit. As result of this a new basic component called the memristor is developed. The idea behind the development of this component is of Leon Chua. The component is named as memristor because it consists of a resistor with memory.

Memristor can be called as an element which consists of derivatives of current and voltage. That is charge and flux. This can be achieved by the combination of resistor capacitor and inductor. A single component which can be used as memory element will be very useful for circuit designing purposes.

The thing that makes the memristor different from that of other components is that it carries the memory of the past. When power is removed it will be capable to remember its previous state, how long the device has been working etc. this can be duplicated by the combination of resistor, capacitor and inductor. That is why memristor can be called as fundamental device.
Memristor can not only be used as a basic component it can also be used as memory element. A device which can be used for storing values and data. The Chua circuit will be the simplest realization of this fourth component. But the device is still in theories. It will require more time for the device to come into existence in reality.

Types of memristors
1. Spintronic Memristor
2. Titanium dioxide memristor
3. Polymeric memristor
4. Magnetite memristive systems

The property of a material to retain it s resistance after the power is removed is called memresistance. A material used for making memresistors is titanium dioxides. The device is made by placing a thin layer of titanium di oxide between the two electrodes. The layer of titanium has oxygen depletion. When voltage is applied at the electrodes a change in oxygen concentration is developed. This will create a change in resistance and can be used as memory. 

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