Web 2.0 is quite simply a term describing the trend in the use of technology and design that aims to enhance creativity, information sharing, and, most notably, collaboration among users.
These concepts have led to the development and evolution of web-based communities and services, such as social networking sites, wikis, and blogs.
It does not refer to an update to any technical specifications, but to changes in the way we develop for the Web and how end-users use it. It is an architecture of participation where users can contribute content creating network effects.
The idea of Web 2.0 also relates to a transition of websites from isolated information silos to interlinked platforms, and also includes a social element where users generate and distribute content, often with freedom to share and re-use. It's as simple as that.
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