Announced officially at Gnomedex, social bookmarking service Ma.gnolia has moved to an open source model.

Reddit like, anyone will be able to download the Ma.gnolia code and use it on their own site. The M2 offering will be available in a month, but the basics are now available at Ma.gnolia.org.

Live on stage, Ma.gnolia gave a passionate description of the open source world, refreshing attendees remembrance of open source history and current problems.

Included in the announcement is a distributed model where bookmarking through the script will be available across installs, Identi.ca style. Ma.gnolia acts as the central conduit.

Updated: this from the Ma.gnolia blog

We’re going to find out, with today’s announcement of Ma.gnolia 2, or M2 for short. M2 is a ground-up rewrite of Ma.gnolia, re-creating features we love today, taking a second run at what didn’t worked as well as planned, on a distributed, service-based architecture designed to handle the large volumes of data we’ve seen. What’s more, M2 will be an open source project that can be downloaded to remix and run as your own.

Gnolia Systems