Through this, basically any Chrome desktop app that run on Windows, OS X and Chrome OS, will be able to run on a mobile device.
For developers building Chrome apps for mobile, they will also have access to numerous APIs. Some exclusive to Android are for payments, to sell virtual goods within your mobile app, and notifications, to send rich notifications from your mobile app.
There are definitely exciting times ahead for the mobile world. Check out the source links below for more info.
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