
Basically, CorePNG makes a video stream that consists of PNG images. CorePNG has the ability to write P frames and to autodetect when it should. The P frame takes the difference of the previous frame and the current frame and encodes that as a PNG. It supports the RGB color-space at 24- or 32-bit depth. Some of CorePNG's features have been marked as unstable however.
CorePNG was originally developed for use with subtitles, but evolved into a lossless codec that claims sometimes to outdo Huffyuv and Loco in terms of compression.