Dissolves are blending transitions between timeline elements in which the first clip fades out at the same time as the second clip fades in. Wipes are non-blending transitions that use masks to hide or reveal the outgoing and incoming shots.
You can create several types of transitions. To create a transition, you must have enough head and tail frames in the outgoing and incoming shots.
Create transitions from the EditDesk record timeline.
To create audio fades, see Creating Audio Fades in the Timeline.