Thanks for the question. Frankly, at the time, I was under the impression that Keypass what a quite powerful and thus complex beast. I wanted something simple with just the data I needed saved (ie app name, username and password, nothing more) so I went ahead and created the new format.

It was actually interesting to work on a new file format. The version 1 was not formally versioned. I realised that for the version 2, I would need to add a version number to the file format. Of course, the world doesn't care about any of that, but I learned something doing it and am happy about that.