From the video:

PPSSPP is a PSP emulator written in C++, and translates PSP CPU instructions directly into optimized x86, x64 and ARM machine code, using JIT recompilers (dynarecs).

PPSSPP can thus run on quite low-spec hardware, including stronger ARM-based phones and tablets, as long as there’s support for OpenGL ES 2.0.

Growing compatibility!

PPSSPP is only a few months old and thus not all PSP games are currently playable. However, compatibility is improving very quickly!

Free & Open Source

PPSSPP is an open source project, licensed under the GPL 2.0 (or later). Anyone is welcome to contribute their improvements to the code, and the hope is that over time this will resolve the compatibility problem, letting us all play the PSP games we wants on the devices of our choice.

[Youtube]