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An imageboard is similar to a Bulletin Board System. Mostly, found on the internet in various forms, such as smaller, community-based sites, and huge, wide-ranging sites that cater to every need.
Imageboards run off a central server, in which users from anywhere can post various images (in the JPEG, PNG, or other formats) and have discussions on the images. Popular topics are Photoshop contests (the compositing of various images, often humourously), discussion on images found in random places, or other sources.
Popular imageboards are often hit with major bandwidth consumption (up to two terabytes a month, or more), and thus popular ones are rare to find. Widely popular western ones are 5chan, IIchan and 4chan, which stem from the ideals of the Futaba-channel or 2chan. Popular boards, much like popular topics or fad's. attract both intellectual people, and internet trolls (who thrive on the drama they create while flaming somebody or a particular party.)