Most of us have used Google Wave a bit. Some of us find it a very powerful tool while others find it just amusing but none can deny that is an awesome way to collaborate. Despite all this, Google Wave is termed as failure and Google announced discontinuing its further development.

But for those who loved it, Google has decided to open source most of the Wave code and give permission to install and develop it on your server without any cost. Google posted “We will expand upon the 200K lines of code we’ve already open sourced (detailed at waveprotocol.org) to flesh out the existing example Wave server and web client into a more complete application or “Wave in a Box.”"

They have mentioned that the open sourced project would include:

• an application bundle including a server and web client supporting real-time collaboration using the same structured conversations as the Google Wave system
• a fast and fully-featured wave panel in the web client with complete support for threaded conversations
• a persistent wave store and search implementation for the server (building on contributed patches to implement a MongoDB store)
• refinements to the client-server protocols
• gadget, robot and data API support
• support for importing wave data from wave.google.com
• the ability to federate across other Wave in a Box instances, with some additional configuration

The project is being termed as “Wave in a Box”. Google has left the fate of Wave on Open Source Community now and even we are tempted to host an instance of Wave if you guys want. What do you think? Let us know in comments.