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in most simplist terms it is sites like youtube, myspace and blog sites and wikkis, where instead of traditional websites where web authors make a site containing information or tools for users to read, the new generation sites or web2 is where the users create and maintain the content through submitting things and updating things, there is no actual author based content.
while i agree its not really anything new just a few sites have recently made it more popular, people had been using their own websites to air their views and blogs for a long time, now there are just community sites on which they call all do so in the same site and without their own servers.
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