XMPP - Extensible Messaging and Presence Protocol

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https://jitsi.org/Projects/JitMeet
http://xmpp.org/extensions/inbox/colibri.html

What is Jitsi Videobridge?

Jitsi Videobridge is a WebRTC compatible Selective Forwarding Unit (SFU) that allows for multiuser video communication. Unlike expensive dedicated hardware videobridges, Jitsi Videobridge does not mix the video channels into a composite video stream. It only relays the received video flows to all call participants. Therefore, while it does need to run on a server with good network bandwidth, CPU horsepower is not critical for performance. You can see the Jitsi Videobridge in action here.

What is JitMeet?

JitMeet is an OpenSource (MIT) WebRTC JavaScript application that uses Jitsi Videobridge to provide high quality, scalable video conferences. You can see an early version of JitMeet in action here.
You can also try it out yourself at meet.jit.si.