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From site: "Prana is an Inversion of Control (IoC) Container for ActionScript 3.0, and more specifically the Flex framework. It enables you to configure objects and components in a non-intrusive way by describing them in an external xml document and having them loaded at runtime."

Today most of the browsers use a flash plugin to play the videos.This works pretty well but Flash unfortunately requires a lot of computing power.This would be an issue if the system has a low end configuration Hence the new web standard HTML5 is trying to change that.