OpenTSDB 2.0 is a distributed, scalable, open-source time series database designed to store trillions of data points without losing precision, leveraging HBase for scalability. The document outlines various use cases, including systems monitoring, sensor data, and application performance metrics from companies like OVH and Yahoo, detailing its architecture for writing and querying data. It also discusses improvements in UID assignment, schema design, and the future developments planned for OpenTSDB, such as enhanced query capabilities and integration with time series searching.