Providing for a new combination of non-volatile memory architecture and memory processing technology is described herein. By way of example, disclosed is a parallel bitline semiconductor architecture coupled with a channel-based processing technology. The channel based processing technology provides fast program/erase times, relatively high density and good scalability. Furthermore, the parallel bitline architecture enables very fast read times comparable with drain-based tunneling processes, achieving a combination of fast program, erase and read times far better than conventional non-volatile memories.