What law describes the observation that the number of transistors on a microchip doubles approximately every two years?

Moore's Law describes the phenomenon where the number of transistors on a microchip doubles approximately every two years. This observation was first made by Gordon Moore, co-founder of Intel, in 1965, and it has been a guiding principle for the semiconductor industry, forecasting the exponential increase in computing power and decrease in relative cost of electronics over time.

The impact of Moore's Law is substantial; it suggests that as chips become more powerful and affordable, advancements in technology can occur at a rapid pace, enabling innovations in various fields including computing, telecommunications, and consumer electronics. The doubling of transistors translates into improvements in performance and efficiency, which is pivotal for driving progress in technology and applications like artificial intelligence, mobile computing, and the Internet of Things.

Measuring technology growth through this lens has led to a continuous investment in research and development within the industry, as companies strive to keep up with the expectations set by Moore’s observation. This law is particularly relevant for understanding the trends in scalability and performance enhancement in computer architecture, underpinning many developments in the digital world we experience today.