Resistive random-access memory (RRAM or ReRAM) is a type of nonvolatile memory that works by changing the resistance across a dielectric solid-state material called a memristor. It uses a bipolar resistive switching mechanism where the resistance of the dielectric changes due to the applied voltage. While ReRAM has advantages like high response speed and non-volatility, making it a potential replacement for DRAMs and Flash memories, current disadvantages include integration and reliability issues, high write power needs, and difficulties in controlling filament formation at the nano scale.