Fring is an App that gives users the ability to do video chat on their iPhones and their Android phones. Up until today, the application was limited to use within owners who run the same OS. In other words, Android users could do video chat with other Android phones, while iPhone users had to video chat with other iPhones.
That changed with today's update. Now users across both platforms can do video chat. This is a huge step in in the mobile world because it may be the first in bringing bitter rivals closer together. In all seriousness though, it's very cool to be able to use video chat with friends who own different types of phones.
Note that the App mentions "one way" video chat (at the time of this writing). It actually supports video both ways.
Check out the App here.