Continuous Delivery is a software development practice where code changes are automatically tested, built, and prepared for a release. The key principles are:
1) Make small, incremental code changes continuously that are always ready for production.
2) Automate testing, building, and deploying to reduce risk and make releases boring.
3) Use feature toggles to deploy incomplete features and control their rollout.
This allows software to be updated and released frequently in a sustainable way by catching issues early and improving quality. It is a cultural change that requires investment but provides benefits like faster feedback and the ability to respond quickly to demands.