HEVC or h.265 is the most advanced codec for now because it has the lowest bitrate without losing the image quality. The codec has three main features that distinguishes it from others: parallel decoding, random access to images within the video stream and larger maximum block size. HEVC is aimed to offer the same level of video quality as AVC (h.264), but with improved compression, that is why a video file compressed with the codec will be twice smaller.

MXF is a media container developed by SMPTE association for professional use. MXF implements subset of Advanced Authoring Format (AAF) data model and nowadays become a standard in professional non-linear video editing. MXF files can be compressed with almost any codec and easily converted to any popular video format. Worth noting that Sony's, Panasonic's and Canon's implementation of this format carries a lot of incompatibilities, that was a big flaw of this container. These issues were addressed in the 2009 version of the standard.