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What is the Digg!

TechCrunch reports that Digg might soon overtake Slashdot in website traffic. Pretty neat considering it hasn't even been a year since the site was launched. Slashdot is still my personal favourite, but I also like Digg's more Web2.0 concept. What is Digg? From the website:

Digg is a technology news website that employs non-hierarchical editorial control. With digg, users submit stories for review, but rather than allowing an editor to decide which stories go on the homepage, the users do.

 Also covered at TechCrunch here and here.