Fedora is an open source project that provides a platform for developers to work on innovative and latest technologies. Users can use and test these latest features. The document discusses the history of Fedora starting in 2002, its support from Red Hat, why users choose Fedora like access to latest open source technologies, and the Fedora.Next initiative to address issues with the "one size fits all" approach by creating distinct base, workstation, server, and cloud editions.