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Digg has released its API to allow developers to access Digg data dating back to 2004. A Flash application toolkit is also been released alongwith the API. Digg is also kick starting a contest for the most creative and innovative visualizations and applications developed using the API and Flash toolkit. The ten finalists will get a Grand Prize featuring a Falcon Northwest gaming PC, the full catalog of EA PC games, and the Adobe CS3 Master Collection. This is really a nice way to get developers excited in order to build a vibrant ecosystem around your data.

Digg has recently hit the milestone of 1 million registered users. MySpace has also launched a Digg like news site yesterday to gather some of the magic of Digg, its yet to be seen how the competition fares. However the release of API will definitely solidify Digg’s position as a prime social news site, and will make reaching Digg’s front page even more valuable.