Google unveils WebM open-source video format

On 19th May, Google gives a sneak review of world's first open source WebM video format. As per google, It will give a new experience to users who view online videos.

From VP8 technology, Google build WebM open-source video format which give better video streaming. Best thing is that this is Royalty Free.
For those who don't know about VP8 technology:

In February 2010, Google acquired On2 Technologies, which were specialized in video-compression tools. On2 Technologies developed video compression technology VP8.

The VP8 codec has been blended with the open source Ogg Vorbis audio format to create a new codec, WebM, which is available for royalty-free use.

Microsoft and Apple use the H.264 encoding standard, which is not royalty-free. Now one more reason for war between these three Gaints (Google, Microsoft & Apple).

Mozilla, Opera, Adobe, AMD, ARM and Nvidia committed to supporting the new WebM video format.

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