HLS (HTTP Live Streaming) and MPEG-DASH (Dynamic Adaptive Streaming over HTTP) are the two dominant adaptive bitrate streaming protocols used today. Both allow video to be delivered in small chunks over standard HTTP, enabling quality to adjust dynamically based on the viewer's network conditions.
HLS (M3U8) was developed by Apple and first released in 2009 alongside iOS 3. It uses the .m3u8 playlist format and .ts (MPEG-TS) segments by default, though recent versions support fragmented MP4 (.fMP4) segments as well.
MPEG-DASH is an international standard (ISO/IEC 23009-1) first published in 2012. It uses .mpd (Media Presentation Description) manifest files and typically uses .m4s fragmented MP4 segments. Unlike HLS, it is codec-agnostic and fully open.