
A wiki (sometimes spelled "Wiki") is a server program that allows users to collaborate in forming the content of a Web site. With a wiki, any user can edit the site content, including other users' contributions, using a regular Web browser. Basically, a wiki Web site operates on a principle of collaborative trust. The term comes from the word "wikiwiki," which means "fast" in the Hawaiian language. The first wiki was developed by Ward Cunningham back in 1995.
Wiki is a piece of server software that allows users to freely create and edit Web page content using any Web browser. Wiki supports hyperlinks and has a simple text syntax for creating new pages and crosslinks between internal pages on the fly. Wiki is unusual among group communication mechanisms in that it allows the organization of contributions to be edited in addition to the content itself. Like many simple concepts, "open editing" has some profound and subtle effects on Wiki usage. Allowing everyday users to create and edit any page in a Web site is exciting in that it encourages democratic use of the Web and promotes content composition by nontechnical users. A wiki allows a visitor to the "wikified" Web site to edit the content of the site from their own computer. Visitors can also create new content and change the organization of existing content. This ease of interaction and operation makes a wiki an effective tool for collaborative writing. The simplest wiki programs allow editing of text and hyperlinks only. More advanced wikis make it possible to add or change images, tables, and certain interactive components such as games. A wiki provides a simplified interface. At any time, contributors can conveniently view the Web page as it looks to other subscribers, before and after the changes they have made. It is not necessary to know HTML (hypertext markup language) or perform work in HTML code. The best known example of a wiki Web site is Wikipedia, an online dictionary building collaboration.
References: http://searchsoa.techtarget.com/sDefinition/0,,sid26_gci943070,00.html
http://wiki.org/wiki.cgi?WhatIsWiki