For Drupal 7, see https://www.drupal.org/node/1861064
Drupal 8 has a whole new configuration system that uses human-readable text files in the YAML (.yml) format to store configuration items. All of your site configuration from enabled modules through fields, contact categories to views are stored with this system. The system is designed to make it much easier than prior Drupal versions to export all your site configuration, make changes and import changes back in.
The Configuration Manager module in Drupal 8 provides a user interface for importing and exporting configuration changes between a Drupal installation in different environments, such as Development, Staging and Production, so you can make and verify your changes with a comfortable distance from your live environment.
This allows you to deploy a configuration from one environment to another, provided they are the same site. The site is identified using a Universally Unique Identifier (UUID) located in the system.site.yml file. The site UUID must match the target site to allow any importing of configuration files on that site.
This capability replaces the need for various contributed modules such as Features and Strongarm.