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FFavs, fast forwarding or transcoding every video format to AVS format. The name comes from FFmpeg. Because of its cheap license and good compression efficiency, AVS is a better choice to replace MPEG-2 than H.264/AVC.
OpenAVS is the open source implementaion of AVS (Advanced Coding of Audio and Video ). AVS is competing with MPEG-4 and H.264 to replace the current worldwide compression standard, MPEG-2.