The site is currently in testing and can be found at www.beta.netscape.com.
Community news sites rely on members to submit stories they find on the web to the service. Any web page can be added to the site, and users vote on ones they find interesting.
The more votes an item receives, the nearer the top of the list it appears. Registered users can also discuss items on the site by submitting comments.
The new Netscape site covers more topic areas than Digg, which currently focuses on technology news. Thirty categories are available, ranging from 'Real Estate' and 'Religion' to 'Women' and 'Video Games'.
Digg is understood to be launching a redesigned site next week and expanding into other topic areas.
In addition to content submitted by members Netscape will include an area at the top of the page for items chosen by staff members, or 'Netscape Anchors'.
Social news sites have been criticised for their ability to be manipulated by a small number of users. At the time of writing, the top story on the beta Netscape page was 'AOL Copies Digg', linking back to an item on Digg.
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