The term Web 2.0 has been with us for almost three years. The publisher, O'Reilly introduced the term at the first Web 2.0 conference in 2004. This excellent O'Reilly piece points out that by Sep. 2005, Google had more than 9.5 million citations for Web 2.0.
An excellent example of Web 2.0, which is often cited is that Britannica Online is Web 1.0 while Wikipedia is Web 2.0. Another example we are all familiar with is the personal web-site versus blogging.
I think a quote from this 2005 Wired article puts it well: " Web 1.0 was commerce; Web 2.0 is people". Among other qualities, Web 2.0 sites harness collective intelligence, customer self-service, and a light-weight user interface.
For a quick summary, this Wikipedia entry is good. Some Web 2.0 features have been present in web applications even before the term was coined: for example Amazon allowed customers to write reviews. And there are no real standards defining what is truly a Web 2.0 web-site.
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