Java 8 was released in 2014 and introduced many new features including lambda expressions, default methods on interfaces, streams, date/time API improvements and more. Some key updates were the addition of lambda expressions to support functional programming, default and static methods on interfaces to allow interface evolution, and streams to provide a powerful abstraction for processing collections of elements. The date/time API was also overhauled, drawing inspiration from Joda-Time to provide an immutable and more logically structured date/time library.