MySpace recently hit the headlines when it declared it was ‘bringing down the garden walls’, permitting its user information to be shared. The firm also pledged to adopt open APIs as well as authentication interfaces. MySpace’s closest rival Facebook - not one to be left behind - is looking to keep up with the former by open sourcing its application code. According to news reports, the social networking site might release the source code for its entire application platform. Facebook refused to comment.

The Facebook Application Platform has just completed its first year. It became popular because of the strong user support it offered for varied and creative applications. In a way, Facebook opened up its platform up before MySpace when it cut a deal with Bebo to let its applications work in Bebo. It has also just announced ‘Facebook Connect’, another idea that sought to make it easier for the users to access their accounts with other sites like Digg.

However, it fell behind MySpace on count of compatibility without the adoption of the open platform.