What is Silverblue?
Silverblue is the new face of Fedora Atomic Workstation from Project Atomic. With good support for container-focused workflows, this variant of Fedora Workstation targets developer communities. If you want to emphasize that it is part of the Fedora project, calling it Fedora Silverblue is fine, too.
What is Team Silverblue?
Team Silverblue is the name we've given to the overall project whose goal it is to turn Fedora Atomic Workstation into Silverblue. This includes the OS itself, as well as tools and apps around container-focused workflows.
What are the advantages of Silverblue over traditional distros?
The use of rpm-ostree for the core OS brings fully atomic upgrades, easy rollbacks and workflows that are familiar from OSTree-based servers. An OS image that is composed on the server side allows for testing the exact bits before they reach client systems, leading to more reliable updates.
rpm-ostree is a hybrid image/package system. It supports package layering, which allows to install RPMs for "OS extensions" such as printer drivers, fonts, and utilities like powerline or ykclient.
Moving desktop applications into Flatpak brings stronger isolation, and solves longstanding issues with using yum/dnf for desktop applications, such as the fact that upgrading deletes the files underneath the running application and often breaks it. Flatpaks can be safely updated without reboot.