This is not to say that Adobe will be replacing Flash with Edge, but rather they were designed to complement each other, performing duties which the other can’t, for example bringing a similar Flash-like experience to iOS devices in HTML5 form instead.
Adobe Edge is free for now during its public preview stage, and it will focus on its core animation engine. In the future it plans to add more HTML5 features including Canvas support, support for HTML5 Audio and Video tags, richer support for animating SVG graphics and more.
It also aims to be compatible with the more popular browsers such as the ones found on Android, iOS, HP’s webOS, BlackBerry PlayBook, Firefox, Google Chrome, Safari and Internet Explorer 9.