Jay Freeman, aka ‘Saurik’ has updated Cydia to a newer and faster version. Introducing Cydia 1.1!! Saurik announced on Twitter: Cydia 1.1: faster, slimmer, and more stable; including an improved search algorithm and “resume where you left off”. Available in Cydia now!
Here is a quick installation tutorial for Cydia 1.1
1. Launch Cydia. Tap on the Changes tab along the bottom.
2. You’ll see upgrades available for Cydia Installer. Tap Upgrade and Cydia 1.1 will install.

 3. Once the install completes, tap the ‘Close Cydia (Restart)’ message. Upon reloading Cydia, you should see 1.1 in the bottom right on the main page.

Saurik notes that Cydia 1.1 will remove older default packages, which is normal. Repositories aren’t deleted, they are just managed differently.
Currently, third-party repos are having trouble keeping up with the huge “1.1 rush”, according to Saurik on twitter:
Apparently the “1.1 rush” (130,000 users in 3 hours) is hammering many third-party repositories (like BigBoss): please be patient with them.