What is the difference between npm-shrinkwrap.json and package-lock.json?

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With the release of npm@5, it will now write a package-lock.json unless a npm-shrinkwrap.json already exists.

I installed npm@5 globally via:

npm install npm@5 -g

And now, if a npm-shrinkwrap.json is found during:

npm install

a warning will be printed:

npm WARN read-shrinkwrap This version of npm
is compatible with lockfileVersion@1,
but npm-shrinkwrap.json was generated for lockfileVersion@0.
I'll try to do my best with it!

So my take-away is that I should replace the shrinkwrap with the package-lock.json.

Yet why is there a new format for it? What can the package-lock.json do that the npm-shrinkwrap.json cannot?

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