Google just announced on their blog that they are releasing an operating system called Google Chrome OS.Google Chrome OS is based on the open source model. It would be a light weight operating system and it would be targeted at the netbooks for now. Google stated that netbooks running Google Chrome OS will be available the second half of 2010.

The focus of the OS will be on “speed, simplicity and security” as Google points out. Like all Google properties, the new OS will sport a clean UI and be extremely lightweight.

Google Chrome OS is an open source, lightweight operating system that will initially be targeted at netbooks. Later this year we will open-source its code, and netbooks running Google Chrome OS will be available for consumers in the second half of 2010. Because we’re already talking to partners about the project, and we’ll soon be working with the open source community, we wanted to share our vision now so everyone understands what we are trying to achieve.

Speed, simplicity and security are the key aspects of Google Chrome OS. We’re designing the OS to be fast and lightweight, to start up and get you onto the web in a few seconds. The user interface is minimal to stay out of your way, and most of the user experience takes place on the web. And as we did for the Google Chrome browser, we are going back to the basics and completely redesigning the underlying security architecture of the OS so that users don’t have to deal with viruses, malware and security updates. It should just work.

Google Chrome OS will run on both x86 as well as ARM chips.The basic model of this operating system is Chrome browser running on top of Linux kernel.