Chrome Cast is a portable device by Google, broadly speaking it can be connected to any TV and allows data streaming from any device. But this one is not a new concept other players like apple has Apple TV and Roku 3 set top boxes.
It’s a less than 2-inch device that can be plugged into your TV through the HDMI port and using the Wi-Fi network it can be connected to internet via some configuring device like android phone, 
tablet or iPad. Since it does not come with a remote so a mobile device or tablet is indispensable for this device to work. You can access things like NetFlix, YouTube and Google Play, one can also view the content of chrome browser that he/she browsing on the computer.
PROS:
- It’s a very small device as compared to other devices that provide such facility.
- Easy plug and play with 1080 p on the TV. You can attend to your calls, messages and surf net on your phone with no interruption to the video streaming on TV.
- Cheap as compared to other devices in its category, just $35
CONS:
- You are pretty much limited to Netflix, YouTube and Google play, other devices offer much more content for instant Roku box offers you access to some 750 programming sources.
- There is a lag between what you see on your programming device and the TV.
- Device becomes hot on operation so its recommended to use HDMI extension.
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