Currently, Flash based memory larger USB Memory sticks with spaced capacities, can be used to read and write data instead of the old drives where a magnetic head reads and writes across platters of spinning disks.
SSD Drives have been used in Military and Airline applications for years, now the price has dropped to allow them to be a viable option for home and business users.
They are more reliable, faster, and more durable than traditional magnetic hard drives. They consume less power which is a primary reason why they are widely used in Netbooks and Laptop/Notebooks.
With the larger sizes of SSD over memory sticks, and the ability to connect them using SATA, PCI Express you can easily have a drive inside your machine.Or turned into a light, fast portable drive (with additional kit) which wont mind the odd knock unlike 2.5/3.5" mechanical drives.