Web 2.0 is a term commonly applied to a perceived ongoing transition of the World Wide Web, from a collection of websites to a full-fledged computing platform serving web applications to end users. Web 2.0 services are rapidly replacing desktop computing applications for many purposes.

In addition, Web 2.0 refers to the second generation of web-based communities such as social networking sites, user participatory weblogs, folksonomies, and wikis. Such sites facilitate collaboration and sharing between users. We are now the golden age of "participatory web".

Social Participation Methodology
Websites are now transforming themselves from Content Push Information silos into Content Share Centers, often themed around a central common interest. Many thrive on the decentralization of authority. This architecture of participation encourages users to add their personal touch, giving value to the application or community as they use it.

The generating and distributing Web content characterized by open communication, freedom to share and, at times re-use, greatly promotes viral information exchange and viral marketing. Such participation is in part enhanced on the technology side by rich-Internet application techniques such as Ajax, Adobe Flex and other persistent (state-enabled) connectivity between client and server.

Figures suggest that the commodity value of Web 2.0 concepts are finanically surpassing that of the original Dot Com Boom.

Additional key concepts related to Web 2.0 are:

• Open Source - Open Design - Open Minded
• Syndication, Mashup and Aggregation of Data using XML/RSS/Atom.
• The Web as an application platform or Network as platform.
• The Long Tail: Why the Future of Business is Selling Less of More.
• Lightweight business models enabled by content and service syndication.
• A rich state-enabled , interactive, user-friendly interface based on Ajax frameworks.

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