Digital BW, The Print

In looking for an Epson Archival Black Ink for my Epson 870,  I 
notice the term "with chip."  What is the meaning of the term "with 
chip" and what is chip's function?

Also, will Ilford smooth pearl paper and  Epson Archival Black 
Inks give a look similar to that of Ilford pearl  RC paper printed in 
the lab?

thanks

Martin