VP8 is a video compression format developed by Google as part of the WebM project. It is designed to reduce the file size of video content while maintaining quality, making it suitable for streaming over the internet. VP8 is an open-source codec, meaning it is freely available for anyone to use and implement in their applications. This format is widely used in web applications, particularly for video conferencing and online streaming services. VP8 is supported by many modern web browsers and platforms, allowing for efficient video playback without the need for additional plugins. Its efficiency and compatibility make it a popular choice for developers.