Abstract: Moore’s Law has driven the electronics industry for the past half century. However, the doubling of transistors about every two years is beginning to break down, owing to fundamental limits that arise as they approach the atomic length. As a result, the search for new pathways for electronics has become crucial. Among potential candidates, the discovery of magnetic textures known as skyrmions has attracted considerable interest and attention in spintronic technology, which relies on both the electron charge and its spin. The unusual topological and particle-like behavior launched skyrmions into the spotlight of scientific research. Topological protected stability, nanoscale size, and low driving currents needed to move them make skyrmions promising candidates for future consumer nanoelectronics. Recent advances in the field have provided all of the basic functions needed for carrying and processing information. In this thesis, we procure to advance the current understanding of skyrmion physics, and explore their potential to replace conventional electronics technology. First, the fundamental properties and lifetimes of racetrack skyrmions at room temperature are investigated. We discover that skyrmions can easily collapse at the boundary in laterally finite systems, and propose ways to improve their stability for constrained geometries. Then, pinning of single skyrmions on atomic defects of distinct origins are studied. We reveal that the preferred pinning positions depend on the skyrmion size and type of defect being considered, and discuss applications where control of skyrmions by defects is of particular interest. Next, we explore other magnetic configurations that can compete with skyrmions when considering new materials, and describe a previously unseen mechanism for collapse of skyrmions into cycloidal spin backgrounds. Finally, switching and interactions between skyrmions with distinct topologies are reported. We find that skyrmions transition to higher or lower topologies by absorbing a unit spin texture. The interactions between skyrmions of different topological charges can be attractive or repulsive, leading to the formation of arranged clusters. We conclude with a numerical library for simulating magnetic skyrmions in various scenarios.