The replacement of gold bonding wire with silver bonding wire can significantly reduce the cost of wire bonding. This paper provides a comprehensive overview of silver wire bonding technology. Firstly, it introduces various types of silver-based bonding wire currently being studied by researchers, including pure silver wire, alloy silver wire, and coated silver wire, and describes their respective characteristics and development statuses. Secondly, the development of silver-based bonding wire in manufacturing and bonding processes is analyzed, including common silver wire manufacturing processes and their impact on silver wire performance, as well as the impact of bonding parameters on silver wire bonding quality and reliability. Subsequently, the reliability of silver wire bonding is discussed, with a focus on analyzing the effects of corrosion, electromigration, and intermetallic compounds on bonding reliability, including the causes and forms of chlorination and sulfurization, the mechanism and path of electromigration, the formation and evolution of intermetallic compounds, and evaluating their impact on bonding strength and reliability. Finally, the development status of silver wire bonding technology is summarized and future research directions for silver wire are proposed.