Under the hood, Chrome for Android has plenty to show for itself. The browser is still based on the WebKit engine, but it's the version customized for Chrome. It's probably more up to date than the WebKit in the regular browser as well.
Canvas, Indexed DB, Web Sockets
Since Chrome for Android is based on Chrome 16, it supports most of the modern web technologies that its desktop counterpart enjoys. This includes advanced support for HTML5 going beyond the basics such as HTML5 video.
It boasts support for Canvas, enabling powerful 2D graphics. With hardware acceleration, Canvas content may even perform well enough to be usable.
Things like Indexed DB, WebWorkers and Web Sockets are also supported by Chrome for Android, so developers won't have to worry about their sites or apps working on mobile devices.
Granted, Chrome for Android only works on about 1 percent of Android devices for now, those running Ice Cream Sandwich.
WebGL is not available
WebGL, the hardware accelerated 3D graphics API, is not included in this release of Chrome for Android. WebGL requires direct access to the GPU as well as plenty of optimization and solid drivers to work.
V8 optimized for ARM processors
The underlying architecture of Chrome has been preserved as well, Chrome for Android is the first multi-process mobile browser. Tabs run in different processes, just like in the desktop version, so a crash in one tab will only bring down that process, but not the entire browser.
No sandboxing in Chrome for Android
Sandboxing though didn't make the cut, redesigning the feature for Android probably proved a too complex task for this stage of the process. But it may be added at a later stage.
Chrome for Android is still in beta and it is already one of the most advanced, if not the most advanced mobile browsers around. More features are bound to be included in the months to come.