The update brings a lot of new things like sound effects, graphics and improvements but most importantly a new feature:

Rune Carving

Rune Carving replaces the item system. After leveling up you will get a totem where you can choose 2 out of 4 random carvings. These carvings are stats to empower you. The totem is cursed which means that there is a negative stat on it. You can sacrifice some currency to negate the effect.