Nanotechnology involves controlling and manipulating matter at the nanoscale (10-9 meters) to create new materials and devices. Some key applications of nanotechnology include transparent coatings using small, uniform nanoparticles; using nanopowder to prevent drug clumping; using carbon nanotubes to build electronic and mechanical devices and detect altered genes; and using nanostructures in biological applications like cancer detection while avoiding toxicity issues. Nanotechnology shows potential for improvements in areas like diagnostics through more sensitive testing that could examine tissues without altering them and perform multiple tests simultaneously.