Google Wave Features and usage

Google Wave is a new model for communication and collaboration on the web, The feature of Google Wave included:

• You can put waves in your site and build wave extensions with the Google Wave APIs.Embed waves in other sites or add live social gadgets via Google Wave APIs.
• More conversation and document.People can communicate and work together via Wave.With live transmission as you type, participants on a wave can have faster conversations, see edits and interact with extensions in real-time.
• Google Wave uses an open protocol, so anyone can build their own wave system.
  Learn more at www.waveprotocol.org.

Google Wave will be available later this year.