From the Ubuntu Wiki page for GRUB2:

GRUB 2's major improvements over the original GRUB include:

  • Scripting support including conditional statements and functions
  • Dynamic module loading
  • Rescue mode
  • Custom Menus
  • Themes
  • Graphical boot menu support and improved splash capability
  • Boot LiveCD ISO images directly from hard drive
  • New configuration file structure
  • Non-x86 platform support (such as PowerPC)
  • Universal support for UUIDs (not just Ubuntu)

Additional information and documentation regarding GRUB2 can be found on the aforementioned wiki page.

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