Instagram has updated its popular free image processing and sharing app to version 2.0, adding an revised interface and more features. Instagram v2.0 includes an improved user interface, faster image processing and the ability to save its processed images at higher resolution. The app still only shares low-res versions of files but allows you to save full resolution versions to your 'phone (10x larger in the case of the iPhone 4). The latest version also adds four more processing filters and the option to add or remove borders from the existing ones.

Press Release:

Introducing Instagram v2.0

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.

Live filters – so fast, we let you see them live
See the world through Instagram’s stunning effects before you even snap a photo. Simply select a filter, hold the camera up to the scene and see the world through Instagram’s visual effects. We’ve re-written your favorite Instagram filters to be over 200x faster so even after having taken a photo, switching between them takes no time at all. Get an in-depth look at the new camera UI.

Four new filters
You’ve asked for more, and we’re excited to provide four brand new filters: Amaro, Rise, Hudson, and Valencia. With these new filters, we continue the trend of turning regular photos into beautiful snapshots. What’s most exciting to us is that we’ve teamed up with @colerise, an extremely popular Instagrammer, to produce these new effects. Keep your eye out for more collaborations to come.
 
Instant tilt-shift
Selective blur over 100X faster than before. Pinch, pan and rotate tilt-shift to give your photos unparalleled depth of field with live preview included. Learn more about live tilt shift.

High-resolution photos - 10x larger than before
Clarity and detail with every shot. By far, the most requested feature from both pros and amateurs alike, we’ve increased our photo size from 612x612 to 1936x1936 on the iPhone 4 (1536x1536 on the iPhone3GS). You’ll capture beautiful moments in all their detailed glory. Read more about high-resolution Instagram photos.

Borders now optional
The creative flexibility you asked for. Turn every filter’s border on or off to fit the mood and aesthetic of the scene.
 
One-click rotation
Easily rotate photos within the camera. No more sideways photos. Use our simple controls to make sure you’ve got the right orientation every time.

New icon
We updated our app icon! It’s the same look, but with more depth and dimension.

Supported iOS versions and devices
Instagram v2.0 is supported on iOS 4.2.1 and above.

Supported devices include:

  • iPhone 4
  • iPhone 3GS
  • iPod Touch (3rd & 4th generations)
  • iPad 2
  • iPad