A memory device includes a plurality of stacks of conductive strips alternating with insulating strips. At least one of the insulating strips includes an insulating material with a dielectric constant equal to or lower than 3.6. A plurality of structures of a conductive material is arranged orthogonally over the stacks. Memory elements are disposed in interface regions at cross-points between side surfaces of the stacks and structures. The insulating strips can have equivalent oxide thicknesses EOT substantially greater than their respective physical thicknesses. The EOT can be at least 10% greater than the respective physical thicknesses. The at least one of the insulating strips can consist essentially of the insulating material with a dielectric constant equal to or lower than 3.6.