Final answer:
A wiki is a collaborative website that can be edited via a web browser, a hallmark of Web 2.0. It allows for continual updates and information sharing, although it's not usually peer-reviewed.
Step-by-step explanation:
A wiki is a collaborative website that allows users to create, add to, modify, or delete the website content via a web browser. This is an integral component of what has been termed Web 2.0, which emphasizes user participation and collaboration. Wikis, such as Wikipedia, have become vital resources for crowdsourcing knowledge and information. Users contribute to wikis freely, and these platforms typically allow for continuous editing and updating, making them dynamic and evolving repositories of information. While they offer instant access to a broad range of topics, it's important to remember that wikis are not typically considered peer-reviewed, and thus should be used with caution for academic research.