Update README.md

README.md

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 # Space is a real-time collaborative code editor!
 
+Space is built on NodeJS and uses NowJS under the hood to support websockets for realtime collaboration. The editor is built on ACE (the same front-end used in Cloud9 IDE) and uses Google's diff-match-patch to send edits information to contributors as changes are made to the code.
+
 ## Demo
 
 Try out Space for yourself on the demo site here:
 http://spacedemo.chaoscollective.org/?project=SandboxApp
 
+## More Details
 
+Check out the Space overview page here for more details:
+http://chaoscollective.org/projects/builtinspace.html
 
+## Libraries/Platforms used
+ - NodeJS
+ - NowJS
+ - ACE
+ - diff-match-patch
 
+## What's Next?
+
+We took a vote, and the results are in. The community wants Space to be open source, so now it is!
+
+But making Space open source is only half the battle, now we need to take it to a more robust and scalable level. Feel free to fork Space, make suggestion, and spread the word. :)
+
+Happy coding!
+
+xoxo,
+the Chaos Collective