Instagram has launched a new version of its photo sharing iPhone app in the App Store. Instagram lets you share your photos in a simple photo stream with friends to see – and follow your friends’ photos with the click of a single button. Every day you open up Instagram, you’ll see new photos from your closest friends, and creative people from around the world.

In a blog post to announce Instagram v2.0, the team said: Today, we’re excited to announce the release of one of the largest revamps to the Instagram app since it launched nearly a year ago. Since the day we launched, one core part of the app has remain largely unchanged: the camera. In the past, we’ve added filters & tilt-shift, but the base technology has never evolved. Today that all changes as we introduce a complete upgrade to Instagram’s camera with a brand new technology layer.

What’s New in Version 2.0.0
Completely revamped Camera experience (iOS 4.2.1+):
– Instant live filters & live tilt-shift
– 4 new filters
– Turn borders on & off
– Rotate photo after taking
– Filtered photos save in high-resolution to photo library

Other improvements:
– Better support for viewing feeds with many comments
– Faster load times for feeds
– New icon