The Quasar DV Codec (libdv) is a software decoder for DV format video, as defined by the IEC 61834 and SMPTE 314M standards. DV is the encoding format used by consumer-grade digital camcorders-The Quasar DV Codec (libdv) is a software de coder for DV format video, as defined by the IEC 61834 and SMPTE 314M standa rds. DV is the encoding format used by consumer - grade digital camcorders