This post with provide links to articles on the development of the amazing material, graphene, single layer thick graphitic carbon.
IBM researchers have produced a graphene-based integrated circuit with good characteristics. Graphene circuits article from the British Broadcasting Agency.
http://www.bbc.com/news/science-environment-25944824
Here's a naysayer who thinks all this research is wasted. In my experience, we spend far to little on research in general, so even if it takes a long time to bring useful results, it is rare for research efforts to be a waste.
http://www.bbc.com/news/science-environment-21014297
More on IBM's graphene integrated circuit, an RF receiver with performance comparable to silicon.
http://phys.org/news/2014-01-graphene-circuit-ready-wireless.html
Gigahertz performance in a graphene oscillator circuit.
http://physicsworld.com/cws/article/news/2013/jun/17/graphene-circuit-breaks-the-gigahertz-barrier
Graphene transistor development news.
http://www.technologyreview.com/view/518426/how-to-save-the-troubled-graphene-transistor/
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