In this topical paper we try to give an analysis and overview of the current state of Semantic Web research. We point to different interpretations of the Semantic Web as the reason underlying many controversies, we list (and debunk) four false objections which are often raised against the Semantic Web effort. We discuss the current status of the Semantic Web work by reviewing the current answers to four central research questions that need to be answered, and by surveying the uptake of Semantic Web technology in different application areas. Finally, we try to identify the main challenges facing the Semantic Web community.