One of the major changes of iOS 10 update is its lock-screen, in which apple seems to be having a major changes to its functionality even the fonts and style has been updated. Bolder font and the famous "slide to unlock" has been remove to the new update, instead replacing it with "Press home to unlock" in which can only be unlock using a registered fingerprint identification or "Touch ID" from its owner.
Here's a quick video hands-on of the new iOS 10 Lock-screen
Upon getting this update, you notice that the status bar displays a lock icon which means the device needs to be unlock using The Touch ID, and when you notice that the lock icon is not visible it only means that you can unlock the phone by really pressing the home button to access the app drawer.
Let's take this to a more simpler explanation. "When you wake up your device"
Lock icon on the top = Press home to unlock at the bottom (This means that you need to rest your touch id or your "thumb" at the home button for you access the app drawer.
Lock icon not visible = Press home to open at the bottom (This can only mean that the device is already unlocked and you need to press the home button to access the drawer.
while on the lock-screen you can also access the camera by swiping at the right side of the screen and after you can just press the home button to return to the lock-screen state. You want to access widgets? not a problem, because you can just swipe the left side of the screen to access all the widgets available.
This is truly an overhaul version of iOS 10 Lock-screen compared with the previous update, there are actually lot of features just on the lock-screen itself including the continuity shortcut at the left bottom of the screen. The notification are can also be accessible while on lock-screen you can access it by just swiping down the status bar.
Conclusion
So being lazy with multiple touches to access something, apple does it for you in just a swipe or two, while in lock-screen there are tons of update regarding the functionality of the iPhone inside the lock-screen itself.