Web 2.0 refers to second-generation web services that allow users to collaborate and share information online through technologies like AJAX, RSS, and social networking sites. It evolved from static web pages viewed through browsers into a more dynamic environment where users can both consume and create content. Key characteristics of Web 2.0 include rich user experiences, user participation, dynamic content, open web standards and scalability, and collective intelligence. Popular social networks like Facebook, MySpace, and LinkedIn enable online social networking and community building.