Blu-ray disc is the third generation optical disc format that can store 25/50 GB of data, which is more than previous formats. It uses a blue-violet laser with a wavelength of 405 nm to read significantly smaller pits than DVDs. Blu-ray discs come in different recordable formats and in single or double layers, allowing storage of multiple hours of high definition video. The technology provides advantages like higher durability and resistance to scratches compared to DVDs.