To put it in simple words, Web 2.0 refers to the next generation of Internet which is characterized by a more open environment where there is more user participation. Web 2.0 includes podcasting, blogging, social computing, the read-write web, & content generated by the users themselves. Web 2.0 basically refers to the new-age user driven web.

Some Important Aspects Of Web 2.0  :- 

User Generated Content - Web 2.0 has ushered in a totally new age of technology where there is free access for everybody. Here a user not only has the freedom of browsing but creating too if he/she wants. Tools like blogging and video sharing websites have lowered the barriers to entry ensuring that users can freely share or broadcast information to the world through the Internet. Self-expression has become the mantra of the day as far as Web 2.0 is concerned.

Collective Wisdom - Web 2.0 is based on the concept of harnessing the power of the collective wisdom of the millions of internet users in the world. Yet another interrelated aspect of the new-age Web 2.0 is the use of content generated by other internet users.

Huge Volumes Of Data - The huge amount of data that is created on the web today is just amazing. Some companies like Google even specialize in the collection, processing & managing of this staggering amount of data.

Mass User Participation - Web 2.0 facilitates mass user participations through lower barriers to entry. The basic principle on which Web 2.0 is based is – more the people who use it, the services get better in that proportion. This principle is also called the Network Effect. This Network Effect is often credited with the continuous improvement of the services and applications available on Web 2.0.

Openness - As per some, the concept of openness is central to Web 2.0. The web encourages open innovation, re-use of content, sharing, & availability of free data. The web is known for its open standards

Web 2.0 – the new and improved version is not just a few technologies and applications thrown together, it has completely revolutionized the way people interact & in many ways highlights the power of networking.