What does x:bind do in a Universal Windows Platform project?

x:bind is a new data binding syntax or, more correctly {x:Bind} is a markup extension in Windows 10 similar to {Binding} in Windows 8.1. It does not have all features of {Binding} but it takes less time to run and uses less memory.

During compilation {x:Bind} gets converted to a code that gets values from a property on a data source and set it to the UI property. It is therefore sometimes called compiled bindings.