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The advent of network coding promises to change many aspects of networking. Network coding moves away from the classical approach of networking, which treats networks as akin to physical transportation systems. We overview some of the main features of network coding that are most relevant to wireless networks. In particular, we discuss the fact that random distributed network coding is asymptotically optimal for wireless networks with and without packet erasures. These results are extremely general and allow packet loss correlation, such as may occur in fading wireless channels. The coded network lends itself, for multicast connections, to a cost optimization which not only outperforms traditional routing tree-based approaches, but also lends itself to a distributed implementation and to a dynamic implementation when changing conditions, such as mobility, arise. We illustrate the performance of such optimization methods for energy efficiency in wireless networks and propose some new directions for research in the area.