Taiwan Semiconductor Manufacturing Co. (TSMC), the world's largest contract chipmaker, touted its 3 nanometer process as the world's most advanced semiconductor technology on Thursday at a ceremony announcing the start of mass production of chips using the highly anticipated technology.

The 3nm process yield rate is comparable to that of the 5nm technology and demand for 3nm chips is very strong, said TSMC Chairman Mark Liu (劉德音) during the ceremony held at TSMC's Fab 18 in the Southern Taiwan Science Park in Tainan.

Liu said TSMC's 3nm technology would feature an estimated 60 percent gain in density of logic transistors and reduce power consumption by 30 percent to 35 percent at the same rate compared with 5nm technology.

Higher logic density means smaller transistors that operate faster and require less power to operate can be produced.