There are two versions of the KidsWifi hardware with slight differences.
This is the original KidsWifi, which we call v1:
And this is the next version we call v2:
While they look different, the work almost identically. The main difference is that v1 only connects to your home Wi-Fi network at 2.4 GHz while the v2 will connect at 5 GHz if available (but can still connect at 2.4 GHz). For most people, this won't make much difference but can provide faster speeds in some situations.
The other little difference is v2 has a pause button on the bottom, along with a switch to open a guest network.
Both hardware versions get the same software updates with new features as they are added.