PHP 7 is now available. It's 2-3 times faster than 5.6 and lot of new language features like New Spaceship Operators, scalar type hints, return type hints

1. Few things to know about new PHP 7
2016 is a big year for PHP programming world. After many iterations, the PHP 7 was released in 2015.
It takes a certain time to adapt to new versions for the industry and develop an application on top of that.
The web hosting control panel software provider cPanel has started rolling out PHP 7 through their Easyapache script. However, PHP 7.0 is only
available through EasyApache 4. As a cPanel web hosting company, we are excited to use PHP 7 in our infrastructure and share some of the
important features.
We are excited to use PHP 7 in our infrastructure and share some of the important features.
PHP 7 Performance
Your application runs twice as fast on PHP 7 compared to version 5.6. PHP 7 is based on the PHPNG project ( PHP Next-Gen), that was led by
Zend to speed up PHP applications.
For detailed performance benchmarks, have a look at Rasmus Lerdorf’s presentation at PHP Australia.
Overall, you could expect a 100% improvement on WordPress Hosting sites performance.
List of new language features
 Facilitates Error Handling
 64-Bit Windows Systems Support
 New Spaceship and Null Coalescing Operators
 Scalar Type Hints
 Return Type Hints

2.  Accurate Type declarations.
 Anonymous Classes
 Group declarations
 Clean code
You can view the full list of deprecations and changes here: https://wiki.php.net/rfc/removal_of_dead_sapis_and_exts
Please note that if you are using legacy PHP applications the new PHP 7 can potentially break the code.
Happy PHP 7 coding and hosting!
Sources:
http://php.net/manual/en/migration70.new-features.php
https://blog.cpanel.com/php-7-is-here/