
Microsoft's goal with Silverlight is still to help developers put together high quality media and RIA applications for the Web and desktop. With version 4, the Silverlight out-of-browser capabilities which enable high-quality application experiences on the desktop have been improved, advancements in business application development (like access to other Microsoft products) have been made, and the HD-quality video experiences have been tweaked with native multicast and offline DRM support (both of which were demoed back in September 2009). If you want to see a full list of what's new, check out this page on Silverlight.net.
If you're a developer, ensure that you have Visual Studio 2010 Beta 2 or Visual Web Developer Express 2010 Beta 2 (3.43MB) installed, as it is a prerequisite for developing Silverlight 4 Beta applications using Visual Studio. You'll also want to grab the Microsoft Silverlight 4 Tools for Visual Studio 2010 Beta 2 (25.1MB). In terms of documentation, there's the Online Silverlight 4 Beta Documentation as well as the Microsoft Silverlight 4 Beta Offline Documentation (66.0MB).
Silverlight 3 was released in July 2009, Silverlight 2 arrived in October 2008 and Silverlight 1 launched in September 2007. Officially, Microsoft expects Silverlight 4 to have a Release Candidate build, with the final arriving in the first half of 2010. The Silverlight 3 beta arrived four months before the final, and guess what event is happening four months from now? That's right, MIX 2010. We'd wager that Silverlight 4 will launch then
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