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PHP 7.0.0 is the latest version of PHP. This new version comes with new improvements and a new version of Zend engine. PHP 7.0 is the biggest update in php's history since 2004 when PHP 5.0 was released. PHP 7 promises faster response time and low memory usage.
Taking a look at the improvements in PHP 7.0:
Improved performance: It is 2x faster than php 5.0.