From Destinypedia, the Destiny wiki
Bend momentum to jump again in mid-air. Leap to even greater heights, or make a quick adjustment while airborne to disorient your foes.
Break the bonds of gravity and convert your jump into a long, smooth glide. Cross dangerous terrain and float from perch to perch to keep the high ground.
Leap into a powered jump. The long, slow arc makes you a target, but used carefully, it's a superb way to break contact, gain control of the high ground, or set up devastating ambushes.
Rip a hole in space and leap from point to point. Master the Blink, and you will be a fearsome killer - a spectral force, hard to evade and impossible to pin down. But beware: the technique takes time to recharge.