Gizmodo explains:

“The beardier parts of the web-o-sphere have been abuzz about HTML5, the next version of the language that powers our internet. Will it revolutionize web apps? Will it kill Flash video? Will it fix our gimpy iPads? Yes… and no.”

“Here’s what’s really going on. HTML 5 is already working its way into the underpinnings of web apps you use every day, making them faster and more stable than those relying on Java or other plugins. They’re more like real apps. It’s helping us inch closer to the dream of having real applications available at all times, on any platform.”

“HTML is also setting forth a vision of media—specifically video—that doesn’t rely on crashy, resource-intensive proprietary plugins. Look in your plugins folder, you will probably see four video plugins at a minimum. HTML is a standard with an optimistic view of the future: You launch your browser, and whatever site you visit, whatever media you choose to play, your browser just magically supports it, without the frustration, confusion and added instability of a plug-in.”

“But at heart HTML is just a framework, a glimpse, and an ideal: Its real effect on the internet continues to be defined by the companies and web developers who choose to adopt its many pieces—and it is further shaped by those who don’t.”

• Locations services
• Offline storage
• Video
• Drag-and-Drop Elements, and Document Editing.

(Read more of the article here)