The goal of the new release is to give the user more control over posts and make it easier to find content.
After posting an image you can now go back and change it. This means you can fix any typos or add that witty caption after the fact. You’ll find a new “Edit” option in the menu beneath each of your images. Tap it to modify a caption.
From the Explore page you can now find new people. This makes it easy discover other users and to help people with similar interests find you. Just tap the explore icon at the bottom of the screen (now shaped like a magnifying glass). When you open Explore, you’ll now see two tabs: Photos and People. The Photos tab is unchanged, you can still view photos and video. The new People tab highlights interesting accounts picked by Instagram based on your interests.
The under the hood search algorithm has been tweaked to make it faster and easier to find things. You’ll also start to see dynamic search results as you enter a search term (much like how google search works).
To learn more about these new changes, visit help.instagram.com.