OpenSubdiv is an open-source subdivision method developed by Pixar that lets you work with a high-fidelity representation of your model. As a professional standard in the animation industry, OpenSubdiv is implemented in a variety of software packages, improving interoperability by producing the same results when models are transferred between applications. In Maya, OpenSubdiv is the default subdivision method when you preview a smoothed mesh, or smooth a mesh using Mesh > Smooth.
OpenSubdiv is an improved alternative to the legacy Maya Catmull-Clark subdivision method. For example, OpenSubidv takes advantage of parallel GPU and CPU structures, improving viewport performance for meshes with high subdivision levels. Additionally, you can turn on Show Displacements in the OpenSubdiv Catmull-Clark Controls to visualize displacement maps interactively without the need to render.