The SliTaz team has anounced the fourth version of this tiny Linux. With a new graphical installer this rolling release is a new minimal requierements goal, needing 192 Mb memory and voer 48 mb once installed. It's projected thinking as a powerful but light server without need of installation. Anyway, it has the kernel 2.6.37 (a bit older, considering Lubuntu and OpenSuSE/LXDE ship with 3.0 ones
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