LeoGlossary: Web 2.0

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LeoFinance
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This is the second generation of the Internet.

The termed was coined in 2004 to represent a chance in the software that was being applied to the Internet. It essentially started the transition away from predominately one-way text to two-way communication using a variety of media.

Blogs, wikis, and social media became centerpieces of Web 2.0. This was embraced by the traditional information website that started to add comments to their articles.

With the advancement of communication systems along with increases in processing power, audio and video media forms that were added. This resulted in the posting of videos on social media applications such as YouTube and Facebook.

The architecture was a server based system with individual companies hosting the content on nodes they controlled. Web 2.0 expanded the features and functionality but also, according to critics, made it more centralized.

Monetization came from advertising along with the selling of the data accumulated from the userbase.

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