I2P is an anonymizing network, offering a simple layer that identity-sensitive applications can use to securely communicate. All data is wrapped with several layers of encryption, and the network is both distributed and dynamic, with no trusted parties.
Many applications are available that interface with I2P, including mail, peer-peer, IRC chat, and others. I2P is a low latency mix network, and there are limits to the anonymity offered by such a system, but the applications on top of I2P extend it to offer both additional functionality and protection.
I2P version 0.7.7 contains several anonymity improvements. The use of session keys for crypto was completely reworked, and I2PSnark now uses its own tunnels for tracker communication. Work continues on improving the router console, including conformance to HTML standards and better support of UTF-8.
Work also continues on increasing speeds, both by reducing the number of session keys transferred, by improving the methods of dropping messages during overload, and by reducing drops by high-bandwidth routers. There is a new unsigned update option for those of you that would like automatic udpates to bleeding-edge development versions.
The release also contains several changes to reduce memory and CPU usage, and a large assortment of bug fixes.