Social bookmarking is a method for Internet users to organize, store, manage and search for bookmarks of resources online. Unlike file sharing, the resources themselves aren’t shared, merely bookmarks that reference them.
Descriptions may be added to these bookmarks in the form of metadata, so users may understand the content of the resource without first needing to download it for themselves. Such descriptions may be free text comments, votes in favour of or against its quality, or tags that collectively or collaboratively become a folksonomy. Folksonomy is also called social tagging, “the process by which many users add metadata in the form of keywords to shared content”.
In a social bookmarking system, users save links to web pages that they want to remember and/or share. These bookmarks are usually public, and can be saved privately, shared only with specified people or groups, shared only inside certain networks, or another combination of public and private domains. The allowed people can usually view these bookmarks chronologically, by category or tags, or via a search engine.
Most social bookmark services encourage users to organize their bookmarks with informal tags instead of the traditional browser-based system of folders, although some services feature categories/folders or a combination of folders and tags. They also enable viewing bookmarks associated with a chosen tag, and include information about the number of users who have bookmarked them. Some social bookmarking services also draw inferences from the relationship of tags to create clusters of tags or bookmarks.
Many social bookmarking services provide web feeds for their lists of bookmarks, including lists organized by tags. This allows subscribers to become aware of new bookmarks as they are saved, shared, and tagged by other users.
As these services have matured and grown more popular, they have added extra features such as ratings and comments on bookmarks, the ability to import and export bookmarks from browsers, emailing of bookmarks, web annotation, and groups or other social network features.
*The source of the above referenced definition is from Wikipedia*