diff --git a/build.sbt b/build.sbt
index b8fa3fa..9ce7449 100644
--- a/build.sbt
+++ b/build.sbt
@@ -20,7 +20,7 @@ organizationName := "Michael Stringer"
 startYear        := Some(2019)
 licenses += ("Apache-2.0", url("https://www.apache.org/licenses/LICENSE-2.0.txt"))
 
-scriptedLaunchOpts           := {
+scriptedLaunchOpts := {
   scriptedLaunchOpts.value ++
     Seq("-Xmx1024M", "-Dplugin.version=" + version.value)
 }
@@ -31,13 +31,14 @@ developers := List(
   Developer("stringbean", "Michael Stringer", "@the_stringbean", url("https://github.com/stringbean")),
 )
 
-homepage       := Some(url("https://github.com/stringbean/sbt-dependency-lock"))
-scmInfo        := Some(
+homepage               := Some(url("https://github.com/stringbean/sbt-dependency-lock"))
+scmInfo                := Some(
   ScmInfo(
     url("https://github.com/stringbean/sbt-dependency-lock"),
     "https://github.com/stringbean/sbt-dependency-lock.git"))
-git.remoteRepo := "git@github.com:stringbean/sbt-dependency-lock.git"
-publishTo      := sonatypePublishToBundle.value
+git.remoteRepo         := "git@github.com:stringbean/sbt-dependency-lock.git"
+paradoxNavigationDepth := 3
+publishTo              := sonatypePublishToBundle.value
 
 import sbtrelease.ReleasePlugin.autoImport.ReleaseTransformations.*
 
diff --git a/src/main/paradox/file-formats/index.md b/src/main/paradox/file-formats/index.md
index 4624169..e1ee988 100644
--- a/src/main/paradox/file-formats/index.md
+++ b/src/main/paradox/file-formats/index.md
@@ -4,12 +4,15 @@ _sbt-dependency-lock_ stores lockfile information in JSON format with a version
 top-level object. Details of the file format can be found on these pages, and we encourage other tools to utilise the
 output information.
 
-| Version                | Added In | Removed In | Description      |
-| ---------------------: | -------: | ---------: | ---------------- |
-| @ref:[1](version-1.md) |    0.1.0 |  _current_ | Initial version. |
+| Version                | Added In   | Removed In | Description               |
+| ---------------------: | ---------: | ---------: | ------------------------- |
+| @ref:[1](version-1.md) |      0.1.0 |  _current_ | Initial version.          |
+| @ref:[2](version-2.md) | _proposed_ |      _N/A_ | Proposed enhanced format. |
+
 
 Current default version is: 1
 
 @@@ index
 * [Version 1](version-1.md)
+* [Version 2](version-2.md)
 @@@
\ No newline at end of file
diff --git a/src/main/paradox/file-formats/version-1.md b/src/main/paradox/file-formats/version-1.md
index b8c9915..5cf3be9 100644
--- a/src/main/paradox/file-formats/version-1.md
+++ b/src/main/paradox/file-formats/version-1.md
@@ -1,7 +1,8 @@
-# Version 1
+# Version 1 (current)
 
 * **Added in:** 0.1.0
 * **Removed in:** _N/A_
+* **Schema:** [lockfile-v1.schema.json](../lockfile-v1.schema.json)
 
 ## Types
 
@@ -13,7 +14,7 @@ dependencies.
 #### lockVersion
 
 * **Type:** Integer.
-* **Description:** Version of the lockfile - always 1.
+* **Description:** Version of the lockfile: `1`.
 
 #### timestamp
 
diff --git a/src/main/paradox/file-formats/version-2.md b/src/main/paradox/file-formats/version-2.md
new file mode 100644
index 0000000..78e9826
--- /dev/null
+++ b/src/main/paradox/file-formats/version-2.md
@@ -0,0 +1,333 @@
+# Version 2 (proposal)
+
+* **Added in:** _N/A_
+* **Removed in:** _N/A_
+* **Schema:** [lockfile-v2.schema.json](../lockfile-v2.schema.json)
+
+@@@warning
+This version of the lockfile is currently a proposal and has not been implemented yet.
+
+This will be added in version 2.0.0.
+@@@
+
+## Types
+
+### Lockfile
+
+Top level object for a project lockfile. Contains details of the build configurations and a list of the resolved
+dependencies.
+
+#### lockVersion
+
+* **Type:** Integer.
+* **Description:** Version of the lockfile: `2`.
+
+#### timestamp
+
+* **Type:** String (timestamp) or `null`.
+* **Description:** File generation timestamp in ISO 8601 format (or `null` if timestamps are disabled).
+
+#### configurations
+
+* **Type:** Array of strings.
+* **Description:** List of sbt build configurations in the current project.
+
+#### dependencies
+
+* **Type:** Array of `Dependency`.
+* **Description:** List of all the dependencies in the current project.
+
+### Dependency
+
+Details of a resolved dependency.
+
+#### org
+
+* **Type:** String.
+* **Description:** Organisation of the resolved dependency from Ivy/Maven.
+
+#### name
+
+* **Type:** String.
+* **Description:** Name of the resolved dependency from Ivy/Maven.
+
+#### version
+
+* **Type:** String.
+* **Description:** Version of the resolved dependency.
+
+#### license
+
+* **Type:** String.
+* **Description:** License of the dependency (in SPDX identifier format).
+
+#### artifacts
+
+* **Type:** Array of `Artifact`.
+* **Description:** List of all the artifacts for the dependency.
+* **Note:** Currently only `jar` artifacts are included.
+
+#### configurations
+
+* **Type:** Array of strings.
+* **Description:** List of the sbt configurations that include this dependency.
+
+### Artifact
+
+Details of an artifact contained within a dependency.
+
+#### name
+
+* **Type:** String.
+* **Description:** Filename of the artifact.
+
+#### hash
+
+* **Type:** Array of `Artifact Hash`.
+* **Description:** Checksum of the artifact prefixed with the checksum algorithm.
+
+
+### Artifact Hash
+
+Checksums for a dependency artifact. This is an object that contains one or more hashes for the artifact, currently only
+SHA-1 and SHA-256 are supported but more may be added in the future.
+
+#### sha1
+
+* **Type:** String.
+* **Description:** SHA-1 hash of the artifact.
+
+#### sha256
+
+* **Type:** String.
+* **Description:** SHA-256 hash of the artifact.
+
+## Changes from Version 1
+
+### Timestamp is optional
+
+Previously the `timestamp` field was always included which could cause merge conflicts for some projects. From version 2
+onwards this can now be set to `null` if timestamps are disabled.
+
+Before:
+
+```json
+{
+  "version": 1,
+  "timestamp": "2019-10-29T17:33:05.944Z"
+}
+```
+
+After:
+
+```json
+{
+  "version": 2,
+  "timestamp": null
+}
+```
+
+### Support for Multiple Checksum Hashes
+
+Version 1 only supported a single hashing algorithm (SHA-1). From version 2 support for storing multiple hashes in the
+lockfile has been added. This allows for more flexibility and phasing in of new hashes in a backwards compatible way.
+
+Before:
+
+```json
+{
+  "org": "org.apache.commons",
+  "name": "commons-lang3",
+  "version": "3.9",
+  "artifacts": [
+    {
+      "name": "commons-lang3.jar",
+      "hash": "sha1:0122c7cee69b53ed4a7681c03d4ee4c0e2765da5"
+    }
+  ]
+}
+```
+
+After:
+
+```json
+{
+  "org": "org.apache.commons",
+  "name": "commons-lang3",
+  "version": "3.9",
+  "artifacts": [
+    {
+      "name": "commons-lang3.jar",
+      "hash": {
+        "sha1": "0122c7cee69b53ed4a7681c03d4ee4c0e2765da5",
+        "sha256": "de2e1dcdcf3ef917a8ce858661a06726a9a944f28e33ad7f9e08bea44dc3c230"
+      }
+    }
+  ]
+}
+```
+
+### License Metadata for Dependencies
+
+The license of each dependency has been added to the `Dependency` type. This makes it easier for other tooling to
+inspect the licenses used by a project.
+
+Before:
+
+```json
+{
+  "org": "org.apache.commons",
+  "name": "commons-lang3",
+  "version": "3.9",
+  "artifacts": [...]
+}
+```
+
+After:
+
+```json
+{
+  "org": "org.apache.commons",
+  "name": "commons-lang3",
+  "version": "3.9",
+  "license": "Apache-2.0",
+  "artifacts": [...]
+}
+```
+
+### Source URL Metadata for Artifacts
+
+The source URL of each artifact has been added to the `Artifact` type. This allows other tooling to download the
+artifacts resolved by sbt.
+
+Before:
+
+```json
+{
+  "org": "org.apache.commons",
+  "name": "commons-lang3",
+  "version": "3.9",
+  "artifacts": [
+    {
+      "name": "commons-lang3.jar"
+    }
+  ]
+}
+```
+
+After:
+
+```json
+{
+  "org": "org.apache.commons",
+  "name": "commons-lang3",
+  "version": "3.9",
+  "artifacts": [
+    {
+      "name": "commons-lang3.jar",
+      "url": "https://repo1.maven.org/maven2/org/apache/commons/commons-lang3/3.9/commons-lang3-3.9.jar"
+    }
+  ]
+}
+```
+
+## Examples
+
+### With Timestamp
+
+```json
+{
+  "lockVersion": 2,
+  "timestamp": "2024-06-04T17:33:05.944Z",
+  "configurations": [
+    "compile",
+    "optional",
+    "provided",
+    "runtime",
+    "test"
+  ],
+  "dependencies": [
+    {
+      "org": "org.apache.commons",
+      "name": "commons-lang3",
+      "version": "3.9",
+      "license": "Apache-2.0", 
+      "artifacts": [
+        {
+          "name": "commons-lang3.jar",
+          "url": "https://repo1.maven.org/maven2/org/apache/commons/commons-lang3/3.9/commons-lang3-3.9.jar",
+          "hash": {
+            "sha1": "0122c7cee69b53ed4a7681c03d4ee4c0e2765da5",
+            "sha256": "de2e1dcdcf3ef917a8ce858661a06726a9a944f28e33ad7f9e08bea44dc3c230"
+          }
+        }
+      ],
+      "configurations": [
+        "test",
+        "compile",
+        "runtime"
+      ]
+    },
+    {
+      "org": "org.scala-lang",
+      "name": "scala-library",
+      "version": "2.12.10",
+      "license": "Apache-2.0",
+      "artifacts": [
+        {
+          "name": "scala-library.jar",
+          "url": "https://repo1.maven.org/maven2/org/scala-lang/scala-library/2.12.10/scala-library-2.12.10.jar",
+          "hash": {
+            "sha1": "3509860bc2e5b3da001ed45aca94ffbe5694dbda",
+            "sha256": "0a57044d10895f8d3dd66ad4286891f607169d948845ac51e17b4c1cf0ab569d"
+          }
+        }
+      ],
+      "configurations": [
+        "test",
+        "compile",
+        "runtime"
+      ]
+    }
+  ]
+}
+```
+
+### Without Timestamp
+
+```json
+{
+  "lockVersion": 2,
+  "timestamp": null,
+  "configurations": [
+    "compile",
+    "optional",
+    "provided",
+    "runtime",
+    "test"
+  ],
+  "dependencies": [
+    {
+      "org": "org.scala-lang",
+      "name": "scala-library",
+      "version": "2.12.10",
+      "license": "Apache-2.0",
+      "artifacts": [
+        {
+          "name": "scala-library.jar",
+          "url": "https://repo1.maven.org/maven2/org/scala-lang/scala-library/2.12.10/scala-library-2.12.10.jar",
+          "hash": {
+            "sha1": "3509860bc2e5b3da001ed45aca94ffbe5694dbda",
+            "sha256": "0a57044d10895f8d3dd66ad4286891f607169d948845ac51e17b4c1cf0ab569d"
+          }
+        }
+      ],
+      "configurations": [
+        "test",
+        "compile",
+        "runtime"
+      ]
+    }
+  ]
+}
+```
diff --git a/src/main/paradox/lockfile-v1.schema.json b/src/main/paradox/lockfile-v1.schema.json
new file mode 100644
index 0000000..eece562
--- /dev/null
+++ b/src/main/paradox/lockfile-v1.schema.json
@@ -0,0 +1,93 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "https://stringbean.github.io/sbt-dependency-lock/lockfile-v1.schema.json",
+  "title": "sbt-dependency-lock lockfile v1",
+  "description": "Lockfile for sbt-dependency-lock - version 1 format",
+  "type": "object",
+  "required": [
+    "lockVersion",
+    "timestamp",
+    "configurations",
+    "dependencies"
+  ],
+  "properties": {
+    "lockVersion": {
+      "type": "integer",
+      "description": "Version of the lockfile"
+    },
+    "timestamp": {
+      "type": "string",
+      "format": "date-time",
+      "description": "File generation timestamp"
+    },
+    "configurations": {
+      "type": "array",
+      "description": "List of sbt build configurations in the current project",
+      "items": {
+        "type": "string"
+      }
+    },
+    "dependencies": {
+      "type": "array",
+      "description": "List of all the dependencies in the current project",
+      "items": {
+        "required": [
+          "org",
+          "name",
+          "version",
+          "artifacts"
+        ],
+        "properties": {
+          "org": {
+            "type": "string",
+            "description": "Organisation of the resolved dependency from Ivy/Maven"
+          },
+          "name": {
+            "type": "string",
+            "description": "Name of the resolved dependency from Ivy/Maven"
+          },
+          "version": {
+            "type": "string",
+            "description": "Version of the resolved dependency"
+          },
+          "artifacts": {
+            "type": "array",
+            "description": "List of all the artifacts for the dependency",
+            "items": {
+              "type": "object",
+              "properties": {
+                "name": {
+                  "type": "string",
+                  "description": "Filename of the artifact",
+                  "examples": [
+                    "commons-lang3.jar"
+                  ]
+                },
+                "hash": {
+                  "type": "string",
+                  "description": "Checksum of the artifact prefixed with the checksum algorithm",
+                  "examples": [
+                    "sha1:0122c7cee69b53ed4a7681c03d4ee4c0e2765da5"
+                  ]
+                }
+              }
+            }
+          },
+          "configurations": {
+            "type": "array",
+            "description": "List of the sbt configurations that include this dependency",
+            "items": {
+              "type": "string",
+              "examples": [
+                [
+                  "compile",
+                  "test"
+                ]
+              ]
+            }
+          }
+        }
+      }
+    }
+  }
+}
\ No newline at end of file
diff --git a/src/main/paradox/lockfile-v2.schema.json b/src/main/paradox/lockfile-v2.schema.json
new file mode 100644
index 0000000..e2eaa3b
--- /dev/null
+++ b/src/main/paradox/lockfile-v2.schema.json
@@ -0,0 +1,105 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "$id": "https://stringbean.github.io/sbt-dependency-lock/lockfile-v2.schema.json",
+  "title": "sbt-dependency-lock lockfile v2",
+  "description": "Lockfile for sbt-dependency-lock - version 2 format",
+  "type": "object",
+  "required": [
+    "lockVersion",
+    "timestamp",
+    "configurations",
+    "dependencies"
+  ],
+  "properties": {
+    "lockVersion": {
+      "type": "integer",
+      "description": "Version of the lockfile"
+    },
+    "timestamp": {
+      "type": "string",
+      "format": "date-time",
+      "description": "File generation timestamp"
+    },
+    "configurations": {
+      "type": "array",
+      "description": "List of sbt build configurations in the current project",
+      "items": {
+        "type": "string"
+      }
+    },
+    "dependencies": {
+      "type": "array",
+      "description": "List of all the dependencies in the current project",
+      "items": {
+        "required": [
+          "org",
+          "name",
+          "version",
+          "artifacts"
+        ],
+        "properties": {
+          "org": {
+            "type": "string",
+            "description": "Organisation of the resolved dependency from Ivy/Maven"
+          },
+          "name": {
+            "type": "string",
+            "description": "Name of the resolved dependency from Ivy/Maven"
+          },
+          "version": {
+            "type": "string",
+            "description": "Version of the resolved dependency"
+          },
+          "license": {
+            "type": "string",
+            "description": "License of the dependency (in SPDX identifier format)"
+          },
+          "artifacts": {
+            "type": "array",
+            "description": "List of all the artifacts for the dependency",
+            "items": {
+              "type": "object",
+              "properties": {
+                "name": {
+                  "type": "string",
+                  "description": "Filename of the artifact",
+                  "examples": [
+                    "commons-lang3.jar"
+                  ]
+                },
+                "hash": {
+                  "type": "object",
+                  "description": "Checksum of the artifact using different algorithms",
+                  "items": true,
+                  "required": [
+                    "sha1",
+                    "sha256"
+                  ],
+                  "examples": [
+                    {
+                      "sha1": "3509860bc2e5b3da001ed45aca94ffbe5694dbda",
+                      "sha256": "0a57044d10895f8d3dd66ad4286891f607169d948845ac51e17b4c1cf0ab569d"
+                    }
+                  ]
+                }
+              }
+            }
+          },
+          "configurations": {
+            "type": "array",
+            "description": "List of the sbt configurations that include this dependency",
+            "items": {
+              "type": "string",
+              "examples": [
+                [
+                  "compile",
+                  "test"
+                ]
+              ]
+            }
+          }
+        }
+      }
+    }
+  }
+}
\ No newline at end of file