Java 8, released in March 2014, is a significant update to the Java programming language. It introduced several new features, including lambda expressions, which allow for more concise and functional-style programming. This version also brought the Stream API, enabling developers to process collections of data more efficiently and in a parallel manner. Another key feature of Java 8 is the java.time package, which provides a comprehensive framework for handling dates and times. This update aimed to improve the overall performance and usability of Java, making it easier for developers to write clean and maintainable code.