Twitter is a freesocial networkingandmicro-bloggingservice that enables its users to send and read other users' updates known as tweets. Tweets aretext-basedposts of up to 140 characters, displayed on the user's profile page and delivered to other users who have subscribed to them (known as followers). Senders can restrict delivery to those in their circle of friends or, by default, allow anybody to access them. Users can send and receive tweets via the Twitter website,Short Message Service (SMS)or external applications. The service is free to use over the Internet, but using SMS may incur phone service provider fees.
interesting article with a lot of stats from TechCrunch.com
On Twitter, Most People Are Sheep: 80 Percent Of Accounts Have Fewer Than 10 Followers
School study suggested that the top 10 percent of Twitter users produce more than 90 percent of all Tweets.
What are Twitter Applications?
Twitter applications can be called by different names. They are sometimes called as "twitter tools", "twitter add-ons" and the likes. But whatever the name they are called, they are simply websites which have built-in scripts that complement Twitter. From what is called the API^^application programming interface
twistoridisplays realtime thoughts and feelings expressed on Twitter.
twitturlyWe track and rank what URLs people are talking about on Twitter
visibletweetsVisible Tweets is a visualisation of Twitter messages designed for display in public spaces.
TwitPicTwitPic lets you share photos on Twitter. You can post pictures to TwitPic from your phone, the TwitPic home page or your Twitter account.
Remember The MilkRemember The Milk keeps track of your tasks. Simply add Remember The Milk as your friend, and you can add and interact with your tasks through direct messages and get reminders, too.
TwiddictIf Twitter goes down and you start to feel withdrawal symptoms, use this service to continue using it. Twiddict makes sure all your tweets end up going to the proper place.
The last Web 2.0 phenomenal 
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