In this paper, the fundamental framework and developments of holographic optical memory, recent progress in system implementation and recording materials have been reviewed. The optical storage technology has matured to the level of achieving a fast transfer rate exceeding 10
9 bits/s. The major development in photorefractive recording materials is the two-color recording in LiNbO
3, which supersedes the longstanding issue of destructive readout. It has been realized that near-stoichiometric LiNbO
3 is promising to tailor multi-energy levels owing to the reduced non-stoichiometric defects in this material.
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