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The epub format is where the book industry, as a whole, is currently headed. It can be used by the consumer, or as an intermediary format for hardware ereaders that have customized book formats (Kindle, Sony, etc).
Like HTML, it might undergo some changes as the standard is improved to handle new features required by different types of books (poetry, textbooks, math formulas, etc). Allways getting a bit more polished and functional.
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