Web 2.0 aims to enhance creativity, information sharing, and collaboration on the World Wide Web through more dynamic and user-generated content. It emphasizes social communication, individual creativity, and allowing users to both read and write content online rather than just download information like earlier versions of the internet. Key differences between Web 1.0 and 2.0 include moving from simply reading content to actively uploading and sharing, and focusing more on social interaction than individual domains.