VC-2 is actually the DiracPro codec, a wavelet-based video compression technology developed by the R&D labs of the UK broadcaster BBC. VC-2 is royalty free.
Declared features are:
- Intra-frame only (Inter prediction also available if required)
- 10 bit 4:2:2
- No subsampling
- Lossless or visually lossless compression
- Low latency on encode/decode
- Robust over multiple passes
- Ease of transport (can use a range of transport standards)
- Low complexity for decoding
- Open Specification
- Multiple vendor
- Support for multiple HD image formats and frame rates.