Ars Technica posted an interesting article about a video codec that is written entirely in javascript.  Theoretically, this has huge implications for live video streaming and client side rendering of content without a plugin.   However, with the rise of server side Javascript like NodeJS, perhaps we could also conversely do the opposite where the client and server negotiate the most efficient way to encode and distribute video content? See the link below.

Are video codecs written in JavaScript really the future?
Mozilla/OTOY demonstration is technically impressive, but faces challenges.