Swype is an alternative on-screen keyboard that speeds up text entry. To enter words using the keyboard you slide your finger between each key on the keyboard rather than tapping each key individually. The process of sliding between keys is faster than tapping the keys. Watch the following video to see how you use Swype:
YouTube video courtesy of MobileCrunch
Swype was first available as a built-in alternative to the Windows Mobile keyboard on the Samsung Omnia II and it is also included in the second version of the T-Mobile myTouch 3G. Swype will also be built-in to the HTC HD2 from T-Mobile. It appears that the developer intends to release Swype as an application in the Android Market to be used on any phone running Android, and it has opened a beta program to test Swype on a variety of devices.