Quantum dots are nanocrystalline semiconductor particles between 1-10 nm in size that display quantized energy levels. Their spectral properties depend on their size - smaller quantum dots emit higher energy light while larger ones emit lower energy. This allows using quantum dots of different sizes to produce a range of colors. Potential applications of quantum dots include use in TV and display technologies due to their pure colors and long lifetimes. Quantum dots are also being explored for biological and chemical applications such as cancer treatment where they can target organs more precisely than conventional drugs.