Simplify the following text for a Grade 7 native English-speaking person.
Original: Double-sided Extended-density ( DSED ) 3 Â 1\/2 â floppy disks , introduced by Toshiba in 1987 and adopted by IBM on the PS\/2 in 1994 , operate at twice the data rate and have twice the capacity of DSHD 3 Â 1\/2 â FDDs .
Simplified: A current 3 Â 1\/2 inch floppy ( known as 3 Â 1\/2 Double-Sided , High-Density floppies ) can take 1.44 megabytes of data .