Blu-Ray is the next generation optical disc format that uses blue-violet lasers and has higher storage capacity than DVDs. It can store up to 50GB of data, allowing for high definition video and audio. Blu-Ray discs have a hard coating that makes them more durable and resistant to fingerprints and scratches compared to DVDs. They also have faster data transfer rates and can playback DVDs, giving them an advantage in storage, quality, and compatibility over prior disc formats.