The promises of the ultrahigh‐performance properties of superconductivity and Josephson junction technologies have been known for quite some time. This presentation describes the first superconducting electronics and measurement system and its important role as a major tool to advance microwave and millimeter wave technologies. This breakthrough tool is a sampling oscilloscope with 5‐ps rise time, 50‐&mgr;V sensitivity, and a time domain reflectometer with 8‐ps rise time. In order to achieve these performance goals, several technological hurdles had to be overcome including perfecting a manufacturing process for building Josephson junction IC chips, developing an innovative cooling technique, developing interfaces and interconnections with bandwidths in excess of 70 GHz, and developing the room‐temperature hardware and software necessary to make the instruments convenient, easy to use, easy to learn, in addition to making available functions and features users have come to expect from sophisticated digital test instrumentation. These technological developments are stepping stones leading to the realization of more sophisticated and complex electronic systems satisfying the needs of scientists, technologists, and engineers. The unprecedented speed and sensitivity make it possible to attack new frontiers.