Question:
			How does the PSP mod-chip work?
			Answer:
			There are 2 different ways: a) installing a custom firmware or using v1.50 of Sony's official software. This method does not require a mod-chip to be installed and is entirely software based. b) Installing a physical mod-chip that will allow the PSP to have the official Sony firmware on the console and the hacked or custom firmware on the mod-chip , Both these methods will give exactly the same results when using homebrew apps or playing ISO files from the memory stick.
			How does one dump games on the memory stick?
			This can be done with "Homebrew game loaders" like Fast-loader. Install the loader and select the option to dump the game. Note that game sizes vary from 200MB - 1.6GB, so it is advisable to have a large memory card or Hard drive.
			Will I loose my guarantee if I have the Mod-Chip installed?
			Yes, opening the console will void the warranty.
			What is the Custom Firmware?
			This is a customised version of the official Sony firmware release, but with extra features like loading ISO files from the memory stick.