Kernel Panic is a network engine for rendering 3D/2D graphics and playing sound. Try to imagine that using one client program you can browse many different game servers. It's like unified web-interface. With web browser you can enter any site: there's no need to download special program for each new site. The difference is content (3D/2D graphics, video and sound) and the way to render it (it's real-time). The project is aimed to implement all existing gaming genres and even add some more specific.
See About section for detailed description.