DVD
From Hydrogenaudio Knowledgebase
DVD is an abbreviation of Digital Versatile Disc, the successor to the Compact Disc (CD).
In a nutshell, a 120 mm DVD can store at least 4.7 GiB worth of data, which is far greater than what a 120 mm CD can (up to 0.8 GiB if you're lucky).
DVD's birth process was not a painless one, quite unlike CD's, because there are several companies/groups each pushing their competing technology with obvious vested interests.
[edit] Recordable DVD
Similar to CDs, DVD also comes in recordable (and rewritable) varieties. Unfortunately, there are competing standards for DVD recordable technologies; most modern DVD drives, however, should be able to read these different technologies without much problem.
[edit] Future of DVD
Like its conception, DVD's successor also shows signs of fracture, with competing standards such as HD-DVD, BluRay, and HVD.