Commenting on Wave, Rasmussen said, “A wave is equal parts conversation and document, where people can communicate and work together with richly formatted text, photos, videos, maps, and more.” He referred to it as a developer platform “Developers can build extensions to Google Wave using our open APIs, embed waves in other sites, or build applications that interoperate with Google Wave.”

The Google Wave API provides two primary types of development; Extensions and Embed, to allow developers to enhance Google Wave. With this product, you can create a wave and add people to it. People within a wave can make use of sources like richly formatted text, gadgets, photos and even feeds with other wave members.

Developers can create applications that run within a wave. At the presentation, the wave development team has shown collaborative gaming as a sample. Wave can be used to enhance an existing workflow within an enterprise. During the presentation, a bug tracking system was shown in which wave is used to report bugs and assign them to team members for correction.

The net world is looking forward to this amazing product being released.

Watch the demo video below: