Transistors are semiconductor devices that amplify or switch electronic signals and power in circuits. They have three terminals - base, collector, and emitter - and can be used as amplifiers by feeding a signal into the base to produce an amplified output from the collector, or as switches to control current flow. Transistors are smaller, more energy efficient, durable, and generate less heat than previous vacuum tubes. Their compact size enabled the evolution of computers and other devices from large appliances to smaller desktop and portable electronics. Transistors require only a small amount of power and can turn on and off quickly, making them well-suited for applications like computers, audio amplifiers, and battery-powered devices.