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Waze is a social mobile application that enables drivers to build and use real-time road intelligence on what's ahead, what to avoid and the quickest routes at any given moment. The service includes constantly updated road maps, and delivers traffic and accident alerts and data on the fastest route to wherever you're going.

The Alpha version is going to be released today so keep an eye on their website: http://www.waze.com/

Map and traffic updates are automatically collected and generated as users drive with Waze. Drivers can also actively report and update others on what's happening along their route, including accidents, police traps, weather hazards, cheap gas offers and more.

Waze is free for all its users because everything, including the map, is driver-generated.

You can also get API access if you want to build an application based on Waze.

Find out more about Waze: here and here.