Adafruit Industries395Development Kits and Tools

Because the Arduino (and Basic Stamp) are 5V devices, and most modern sensors, displays, flash cards and modes are 3.3V-only, many makers find that they need to perform level shifting/conversion to protect the 3.3V device from 5V. 

Although one can use resistors to make a divider, for high speed transfers, the resistors can add a lot of slew and cause havoc that is tough to debug. For that reason, we like using 4050/74LVX245 series and similar logic to perform proper level shifting. Only problem is that they are only good in one direction which can be a problem for some specialty bi-diectional interfaces and also makes wiring a little hairy. 

That's where this lovely chip, the TXB0108 bi-directional level converter comes in