Ok so what exactly Google Wave is can be confusing, because there are three parts: the protocol, the server, and the client. A lot of people are really going to miss the boat here if they don't keep the distinction between the three in mind, because I see a lot of people focusing on the wrong parts.
About XMPP The Extensible Messaging and Presence Protocol (XMPP) is an open technology for real-time communication, which powers a wide range of applications including instant messaging, presence, multi-party chat, voice and video calls, collaboration, lightweight middleware, content syndication, and generalized rou