Carbyne, as the truly one-dimensional carbon allotrope with sp-hybridization, has attracted significant interest in recent years, showing potential applications in next-generation molecular devices due to its ultimate one-atom thinness. Various excellent properties of carbyne have been predicted, however, free-standing carbyne sample is extremely unstable and the corresponding experimental researches and modifications are under-developed compared to other known carbon allotropes. The synthesis of carbyne has been slowly developed for the past decades. Recently, there have been several breakthroughs in in-situ synthesis and measurement of carbyne related materials, as well as the preparation of ultra-long carbon chains toward infinite carbyne. These progresses have aroused widespread discussion in the academic community. In this review, the latest approaches in the synthesis of sp carbon are summarized. We then discuss its extraordinary properties, including mechanical, electronic, magnetic, and optical properties, especially focusing on the regulations of these properties. Finally, we provide a perspective on the development of carbyne.