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From the announcement:

"""

To recap, this release has a number of significant highlights compared to Hadoop 1.x:

+ YARN - A general purpose resource management system for Hadoop to allow MapReduce and other other data processing frameworks and services

+ High Availability for HDFS

+ HDFS Federation

+ HDFS Snapshots

+ NFSv3 access to data in HDFS

+ Support for running Hadoop on Microsoft Windows

+ Binary Compatibility for MapReduce applications built on hadoop-1.x

+ Substantial amount of integration testing with rest of projects in the ecosystem

"""