Social Network 3.0

So we had myspace, orkut, Friends Reunited and Friendster as social network v. 1 and now Facebook, bebo, path, google+ aa version 2. But is there a version 3? Is there a set of features that would designate a new paradigm in social networking?

What would it take in terms of features to be the next greatest social network that trumps all others? Could facebook stay in the game for v3 or will a new party come in a steal the crown?