Abstract Nanotechnology is the fastest-growing technology in the world, and it is also called the Industrial Revolution of the twenty-first century. Many research, development, and manufacturing methods have been used globally to develop better and safer nanomaterials for various applications. Nanotechnology teaches us the critical properties of day-to-day materials and structures. The invention of the scanning tunneling microscope (STM), carbon nanotubes (CNTs), and fullerenes (or buckyballs) laid a path toward nanotechnology because atomic- and molecular-level studies could be performed using the STM and nanomaterials. Today this technology is employed in various fields such as engineering, technology, applied sciences, biomedical, pharmaceuticals, food and agriculture, and construction industries. The number of technical articles and patents related to nanotechnology and nanoproducts has been continuously increasing for nearly two decades. Within 10 or 15 years, it is expected that the industrial production of nanotechnology will be worth over $1 trillion. Thus, this technology will drastically change science, education, manufacturing, and the lifestyles of people around the world.