Q1) What is it?

Well according to the official website, it’s

WebAssembly or wasm is a new portable, size- and load-time-efficient format suitable for compilation to the web.

Let me break it down to simpler words,

wasm is a new standard for the web, an improvement to JavaScript. It’s binary byte-code compiled from a system level language, which runs on the browser to provide near native performance ,decrease size and module load time.

In a nutshell wasm is going to change the way we use the web. It’s going to open new a frontier in web development. Imagine running a heavy software or playing a game on the browser all over on the internet.