https://github.com/GYukai/I2VC}{https://github.com/GYukai/I2VC}
Video compression aims to reconstruct seamless frames by encoding the motion and residual information from existing frames. Previous neural video compression methods necessitate distinct codecs for three types of frames (I-frame, P-frame and B-frame), which hinders a unified approach and generalization across different video contexts. Intra-codec techniques lack the advanced Motion Estimation and Motion Compensation (MEMC) found in inter-codec, leading to fragmented frameworks lacking uniformity. Our proposed \textbf{Intra- \& Inter-frame Video Compression (I$^2$VC)} framework employs a single spatio-temporal codec that guides feature compression rates according to content importance. This unified codec transforms the dependence across frames into a conditional coding scheme, thus integrating intra- and inter-frame compression into one cohesive strategy. Given the absence of explicit motion data, achieving competent inter-frame compression with only a conditional codec poses a challenge. To resolve this, our approach includes an implicit inter-frame alignment mechanism. With the pre-trained diffusion denoising process, the utilization of a diffusion-inverted reference feature rather than random noise supports the initial compression state. This process allows for selective denoising of motion-rich regions based on decoded features, facilitating accurate alignment without the need for MEMC. Our experimental findings, across various compression configurations (AI, LD and RA) and frame types, prove that I$^2$VC outperforms the state-of-the-art perceptual learned codecs. Impressively, it exhibits a 58.4\% enhancement in perceptual reconstruction performance when benchmarked against the H.266/VVC standard (VTM). Official implementation can be found at \href{