No, this is not an updated Chromecast. Chromebit is a clever dongle a bit larger than the aforementioned streaming stick that allows you to turn any device with an HDMI port into a Chrome computer. Coming this summer from ASUS, the device will take your TV, old desktop, or other device and transform it into a working Chrome OS computer. Chromebit will offer 2GB of RAM, WiFi, Bluetooth 4.0, and a USB port on the end. Is it powerful enough to handle everything a new PC can? No. But for under $100, it will let you drop a somewhat basic Chrome computer right in your pocket.