I'll start with a quote from the author:

"I have a simple mission: To create an open-source, non-linear video editor for Linux. Many have tried and fallen before me, but for some reason I feel compelled to try myself. I am documenting my journey in this blog for all to read. It will be a dangerous journey, and I might not make it back alive. Hold on tight, and enjoy the ride! By the way, I'm calling this project OpenShot Video Editor!"

OpenShot has too many great features to list them all here but here are a few of them:

• Support for many video, audio, and image formats (based on FFmpeg)
• Gnome integration (drag and drop support)
• Multiple tracks
• Clip resizing, trimming, snapping, and cutting
• Video transitions with real-time previews
• Compositing, image overlays, watermarks
• Title templates, title creation
• Solid color clips (including alpha compositing)
• Support for Rotoscoping / Image sequences
• Drag and drop timeline
• Frame stepping, key-mappings: J,K, and L keys
• Video encoding (based on FFmpeg)