The update is not significant from a consumer perspective at this point, since it doesn't change the Android Wear 2.0 user interface that started rolling out earlier this year. Instead, it updates the core AW code to Oreo, giving it access to two important features phone users have been enjoying for some time: notification channels, and background limits.
The former lets apps on the watch follow the same rules as apps on the phone; if you limit a particular app from sending specific notifications, that behavior will be imitated on the watch.
Given that Android Wear is becoming more phone-independent, notification channels will likely benefit those who rely on apps that generate their own notifications rather than just forwarding them from the phone.
Background limits are battery-saving properties that should extend the battery life of some watches.
There's no word on when Google will make the Android Wear beta program available to more watches, but it's good to see the company sticking with its development path nonetheless. You can sign up for the beta if you have the LG Watch Sport.
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Daniel Bader was a former Android Central Editor-in-Chief and Executive Editor for iMore and Windows Central.