
LAST finds similar regions between sequences.

LAST can:
LAST cannot (yet):
Here are the documents in the LAST download: the main one is last-manual.txt, and there is an interesting table of optimal spaced seeds for DNA read mapping in tag-seeds.txt. Here are some slides (pdf) that give an introduction to sequence comparison and LAST.
What distinguishes LAST from BLAST and similar tools (e.g. BLAT, LASTZ, YASS)?
What distinguishes LAST from read-mapping tools (e.g. BWA, SOAP)?
Here are some dotplots made using LAST:
Publications:
The main technical innovation is that LAST finds initial matches based on their multiplicity, instead of using a fixed length (e.g. BLAST uses 11-mers). To find these variable-length matches, it uses a suffix array (inspired by Vmatch). To achieve high sensitivity, it uses a spaced suffix array (or subset suffix array), analogous to spaced seeds (or subset seeds).
Development: