All digital images and footage are made up separate channels which come together to form the final product. A standard digital image / footage has three channels. Each is a monochrome version of the image/ footage in Red, Green and Blue. This all work together to form the full colour visual we usually see. Editing these separate channels is how we can manipulate image contrasts, saturations, hues and so much more. Images and footage can also have an Alpha Channel which allows transparency to be added to the image. (See Alpha Channel entry for more info).
We are constantly expanding our vocab, so keep your eyes peeled for more.