To summarize the Scrum methodology:

It is apparent from this list that the Scrum methodology could easily be used to create the milestone releases that are common in open source projects.

Scrum is often diagrammed in a way similar to this:

SP = Sprint Planning SR = Sprint Retrospective

This diagram shows what happens to the features as they go through the process. This diagram gets some basic ideas across but it over-simplifies several things.

If the points above are resolved the diagram looks like this:
PO = Product Owner SP x = Sprint Planning SR x = Sprint Retrospective F&A x = Fix & Accept
As you can see the diagram is more complicated than the previous one.

The diagram shows that: