Web Assembly is a new web standard that defines a binary format for executable code in web pages. It is meant to enable executing code nearly as quickly as native machine code. Web Assembly allows other languages like C/C++ to be compiled to run in the browser. It has performance gains over JavaScript due to execution speed and smaller file sizes. Major browsers now support Web Assembly, allowing its use without plugins. Common use cases include games, media editing, peer-to-peer apps, and scientific/CAD applications.