QUIC is a new protocol developed by Google that runs on top of UDP to create a more efficient transport layer than traditional TCP. It aims to reduce latency through features like 0-RTT connection establishment and forward error correction. QUIC has been adopted by Chrome and is planned for wide deployment on ports 80 and 443 within the next 1-2 years. It influenced the development of HTTP/2 and could provide better performance than SPDY and TCP for internet applications.