Silverlight is a powerful cross-browser & cross-platform technology for building the next generation web experience & rich internet applications for the web.
Silverlight applications are delivered to a browser in a text-based markup language called XAML. XAML is a declarative markup language that you can use to define the UI elements for your Silverlight-based application.
Silverlight is considered as a competitor to Adobe's flash technology.
One of the design goals of the Silverlight technology is to fill the gap between windows application and web application in terms of creating Graphical User Interface (GUI). So far web developers were not able to make client happy in terms of UI, but now web developer will be able to full fill this with the help of Silverlight technology.
You can run Silverlight in most of all the popular browsers like Internet Explorer, Firefox, Chrome, Safari etc. Silverlight can run in various devices and operating systems like Windows, Apple Mac OS-X and Windows Phone 7.
Using Silverlight you can create rich, visually stunning web applications like flash. Also you can create smooth animations using Storyboards; you can stream media over the net etc.
Silverlight web browser plug-in comes as free to install (approximately 4-5 MB in size). You can download the required plug-in from Microsoft Silverlight Site.