The world is on the brink of a new technological revolution beyond any human experience. A new more powerful industrial revolution capable of bringing wealth, health and education, without pollution, to every person on the planet. This is the promise of nanotechnology. Nanotechnology
has gained increased popularity largely due to the design, creation and utilization of materials whose constituent structures exist at Nanoscale. This paper aims to review all the previous work done and also therecent advancements and cutting edge inventions in nanotechnology. Today most of
the products made using nanomaterials have general as well as unique applications like cancer treatment, self-powered Nano systems, Integrated chip fabrications, batteries etc. The recent works in the area of carbon nanotubes, Nano-polymers, nanocomposites, Nano-crystals, Nanoparticles, Nano
shells, nanotubes, Nano filters, Nanohorn, nanowires, Nano springs etc. are reportedand the Various risks involved in using nanotechnology is discussed and the futuristic works like CNT processors, Peroforene, super capacitors and flow batteries are also discussed.