ScyllaDB is introducing the Alternator project, providing a DynamoDB-compatible API for its NoSQL database that allows for high performance and low latency, claiming 10x the speed of Cassandra. The webinar showcases Scylla's ability to run on various cloud environments and highlights its open-source nature, efficiency, and scalability compared to DynamoDB. While some features and operations are still in development, the project aims to facilitate easy migration for applications originally built with DynamoDB.