An integrated circuit (IC), also known as a microchip or simply chip, is a compact assembly of electronic circuits formed from various electronic components, such as transistors, resistors, and capacitors, and their interconnections. These components are fabricated onto a thin, flat piece ("chip") of semiconductor material, most commonly silicon. Integrated circuits are integral to a wide variety of electronic devices performing functions such as data processing, control, and storage. They have transformed the field of electronics by enabling device miniaturization, improving performance, and reducing cost.