The player based on the HTML5 standard. Its implementation depends on the browser and the platform that user uses. Based on codec support tables for video and audio in different browsers and platforms, the most common codecs at the moment are H.264 (MP4) for video, AAC and MP3 for audio.
Player support HLS (H.264 + AAC) by default and uses the framework hls.js. You can find some special setings in the builder for this plugin.
You can enable support DASH in the builder (folder Plugins). Player uses framework dash.js.