The paper has three layers of cyan, magenta, and yellow crystals layered over each other. You roll the paper through Zink printers, which then heat specific areas of the sheet, creating an image.
The first version of Zink’s technology was hobbled in that the paper was too big, only 2×3 inches. Version 2.0 is beginning to trickle out, but will appear more widely in the first quarter of 2010. Paper size goes all the way up to 4×6 inches, big enough for printouts of your photos (if you still print out photos!).
More on this come CES, when we’re running around all day talking to 1 million people at the same time.