Microsoft has revealed it is to launch a new service that's planned to rival such web services as Digg, Reddit, and

The new service, called "Social Bookmarks" is due to be unveiled at the TechEd North America event, but has been briefly previewed in a company blog.

A preview version of Social Bookmarks will soon be released and, while it will apparently not boast full functionality, and be English language-only, it will allow users to bookmark any URL on the web, apply tags and save bookmarks in the new "My Bookmarks tool".

Microsoft says all bookmarks, bookmarkers, and tags will also be enabled as links and can be "surfed" to discover new content and people.