Definition: A modchip is a tiny electronic device that is used primarily to circumvent (or get around) the internal protection schemes within today's most popular gaming consoles, including the Xbox, GameCube, PlayStation 2, and other popular CD or DVD media based systems. The most popular use of a modchip is to play 'pirated,' or illegal game copies. Obviously this is illegal in most parts of the world, including the USA and Europe, and at a bare minimum the use of a modchip will void your console's warranty.
Also Known As: mod chip, chipped system, modded console
Examples: While a console with a modchip will allow you to play pirated games, nine times out of ten the risk versus reward simply is not there to make it worth doing.
