The W3C Web Authentication (WebAuthn) specification is now a W3C Candidate Recommendation (CR). See the specification at https://www.w3.org/TR/2018/CR-webauthn-20180320/ and my blog post announcing this result for the WebAuthn working group at https://www.w3.org/blog/webauthn/2018/03/20/candidate-recommendation/.
This milestone represents a huge step towards enabling logins to occur using privacy-preserving public/private key pairs securely held by authenticators, rather than passwords. Its contents have been informed by what we learned during several rounds of interop testing by multiple browser and authenticator vendors. The Web Authentication spec has also progressed in parallel with and been kept in sync with the FIDO2 Client To Authenticator Protocol (CTAP) specification, so that they work well together.