Please, Web 2.0 is a buzz-word ! What is typically classed as 'web 2.0' is web-based applications, and they've dubbed certainly graphic styles as 'web 2.0', but mostly it's a concept.
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Web 2.0 is just a term used to describe the evolution of websites. It's not really defined by one thing and a lot of people will disagree on what is and isn't web 2.0. In fact many things that are generally considered 2.0 were available and in use during what would be considered web 1.0.
I think Tim O'Reilly's article What is Web 2.0 is a good one and helps explains some of the ideas.
Some things that are often associated with web 2.0 are Ajax applications and user generated content.
You won't find an absolute boundary between web 1.0 and web 2.0.
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As far as I understand, the meaning of "Web 2.0" is very ambiguous. I wouldn't put to much worry into it if I were you though. Its mainly a style and there isn't an official set of guidlines for it.
The term "web-2.0" was first refferd in 2004.This technology emphasizes on sharing information amongst users in highly interactive manner.Users should not only be absorbing info from web,they should also contribute necessary info to the web which can be for personal use or for whole community use.Some people take web 2.0 as update of web 1.0.However its just change in methodology.
New internet tools like Ajax,RSS feeds,wikis,blogs and podcasts are part of web 2.0.
Hope this info will be enough.I have updated more on this on one of my blog .You can check it on www.blogcharm.com/deadsoul2. it has complete article on web 2.0 there.
