Yahoo’s Open Strategy could make the company the weapon Microsoft needs for social network dominance.

The gross attention financial analysts and the media are paying to Microsoft’s offer to acquire Yahoo is detracting attention from arguably one of the most significant announcements the embattled Internet company has made in years.

In announcing YOS (Yahoo Open Strategy) April 24, the company has unveiled its intention to “rewire” Yahoo to be entirely open and is looking to be the champion social network at a time when social media is transcending the way the world communicates and does business online.