Linden Lab has made the viewer source code available as open source. This means that everyone who wants too, can view and edit the source code of the "Second Life" viewer. Players will be able to explore the inner workings and find bugs and security problems. Programmers will be able to submit patches to fix problems to Linden Lab.
What Does This Mean for the "Second Life" Community?
Releasing source code would appear to put residents at a security risk. This is not the case. The code released is for the client side of the software, what runs on your computer. It is the server side code that holds the key to personal information, this remains solely in the hands of Linden Lab. In the long run, "Second Life" will become more secure.
Linden Lab has information about downloading the source code and how to submit code.