Google algorithms are continuously changing to make search more specific and have more than 200 signal algorithms doing the same. One of the finest algorithms from them is the Penguin 4.0 which was launched in back 2012 and thereafter introduced many updates in this. Recently the 4.0 update rolled out in 2016 is the continuation of this betterment process which has some key changes in it.
It is more granular now
The webmaster is more granular or specific with providing site ranking information to search engine users. Before the filtration was specific to the whole website regarding spam contents and words but this new update will be specific to pages. In simpler word, this new update will affect ranking for specific pages or section rather than affecting the whole website.
It is now more real-time
Penguin algorithm affected sites usually get refreshed periodically which means after modifying the spam websites, the webmaster need to be refreshed on its own which used to take longer time period. Now, the new 4.0 update will make it more real-time which means the changed web sites will be refreshed much quickly and the new modifications will be visible much faster. This will also affect the page ranking shortly after it refreshes.
Like all other algorithm, Penguin 4.0 is also focused on presenting the best search result for users with all amazingly made websites. Future updates for this algorithm is not yet confirmed but users can expect a much better search experience with this new update affecting the present website ranking.