Yahoo has finally announced the launch of its long-rumored Buzz portal, a social news site where users can vote on stories, and send the most popular stories to a featured spot on the Yahoo homepage, according to the Wired Blog Network.

It is obvious Yahoo Buzz is aimed to compete against Digg and Reddit. However, Buzz is not simply trying to imitate Digg, the Wired Blog Network reported.

The most obvious difference between Buzz and Digg is that the Buzz stories are not user-submitted, but the aggregated stories from select publishers, and users can vote them up or down.

Another difference is that rankings on Buzz are not determined by voting alone – it also includes search logs as one of the ranking criteria, the Wired Blog Network reported.

Similar to Digg, Buzz is divided by news categories, such as world news, sports, business, entertainment, travel and more. It has sections for image and video links as well.

Buzz is set to be launched today.

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