whats the difference?

From what I understand it supports the newer software updates, as well as some extra functions. I have to upgrade to the new hotwire as I got a new Tekin GEN2 rs esc and it had the latest software that my hotwire didn't support and caused my esc to lock up, so I had to install an older update that my old hotwire would support.

i have a gen1 esc. is there any extra features in v2 hotwire that i wouldnt get?

Unfortunately I don't know as I'm waiting on mine to come, but I'm thinking they're making it more user friendly for Android and apple smartphone users.

The Gen2 is more andriod friendly is about the extent of it. It has a build in OTG (on the go) function for android devices to take advantage of.