Google says the OS isopen source and lightweight, allowing users super quick access to the web. They claim the OS will be virus free (the security architecture is entirely new), and run a newly-designed windowing system on top of a linux kernel that will be compatible with x86 and ARM processors alike. Though they were quick to mention this was separate from Android, they also conceded there would be some overlap in concept and functionality between the two platforms.
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Sounds very interesting to me, will be giving this a try