A day and night cycle was recently added, with 1 hour in-game taking 6 minutes real-time. The speeded cycle has the advantage of not needing to split players up who play in different parts of the world. It also means nighttime content can be added without requiring players to stay up late to see it.
The forest at night looks rather eerie, especially other players.
Simple (the game creator) mentioned the idea of developing gameplay with things like torches and different monsters at night. The mounted torches inside the cave and the glowing embers of the orc campfires already light up nearby objects, but he said that moving light sources take longer to program.