Link building in 2015-16

Link Building through bookmarking directory submission and blog commenting is possible?

It's already end of 2015 and we have seen so many updates from google. I am worry about link building.
Is it still worthy the social bookmarking, directory submission, blog commenting for getting backlink?
I heard that Google Penguin update will penalize the site doing this?
SO How can I make good backlinks for seo? How to improve back links for seo, hence rank high on Google.

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