Founded by Noah Everett (@noah), I still can't find the specialty beside it has no (much) different with twitter system. The excesses of itself? Hmm, I think because there are still a few persons who have heello account so it can "run" fast. It doesn't have the application for itself yet, like Tweetdeck for twitter, and the mobile apps doesn't exist yet too.
There are new terms here.
Twitter: Follow --> Heello: Listen
Twitter: Share / tweet --> Heello: Ping
Twitter: What's happening? --> Heello: Share what you're doing
And you can find by yourself another extraneous terms. If search button on twitter could search the tweet by given word, it could search the users.
Could it beat twitter? Hmm we'll see
PS: my account: @mutiatn