Understanding of Digital Video

I understand Digital Video to be two things, one is a medium and the other is a processing technique. Digital Video now means that videos in raw format can now be distributed in a Digital format meaning they're highly accessible through the Internet - a medium that was previously not invented. The resulting format means that the end user (for e.g. Youtube viewer) can now access motion picture in a format best suited for their user environment (e.g. Youtube can provide a link to lower resolution/higher resolution video depending on the speed of that users internet connection).

The other definition now means that video footage can be created using artificial techniques that were previously unachievable. Where film makers of yesteryear' had to rely on manual special effect techniques, Digital Video now means that the ridiculous, unbelievable and exagerated can all be created to a new extreme - for example the famous The Lord of the Rings battle scenes that depict tens of thousands of mutant warrior going to war.