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Google has recently finalized a next generation open-source video codec called VP9, as part of the libvpx repository of the WebM project (http://www.webmproject.org/). Starting from the VP8 video codec released by Google in 2010 as the baseline, various enhancements and new tools were added, resulting in the next-generation VP9 bit-stream. This paper provides a brief technical overview of VP9 along with comparisons with other state-of-the-art video codecs H.264/AVC and HEVC on standard test sets. Results show VP9 to be quite competitive with mainstream state-of-the-art codecs.
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Mukherjee et al. (2013) studied this question.
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