diff --git a/.changelog/3360.breaking.1.md b/.changelog/3360.breaking.1.md
new file mode 100644
index 00000000000..76acdf432ac
--- /dev/null
+++ b/.changelog/3360.breaking.1.md
@@ -0,0 +1,14 @@
+Compare protocol versions according to SemVer 2.0.0
+
+As described in our [Versioning] document, we bumped the protocol versions to
+version 1.0.0 with the release of [Oasis Core 20.10].
+
+Hence, we also need to modify how we compare and detect backward-incompatible
+changes to follow SemVer 2.0.0 rules.
+
+From now onwards, only a change in a protocol's major version signifies
+a backward-incompatible change.
+
+[Versioning]: docs/versioning.md#version-100
+[Oasis Core 20.10]:
+  https://github.com/oasisprotocol/oasis-core/blob/v20.10/CHANGELOG.md
diff --git a/.changelog/3360.breaking.2.md b/.changelog/3360.breaking.2.md
new file mode 100644
index 00000000000..b6662adc10f
--- /dev/null
+++ b/.changelog/3360.breaking.2.md
@@ -0,0 +1 @@
+go/common/version: Remove `MajorMinor()` method from `Version` type
diff --git a/.changelog/3360.doc.md b/.changelog/3360.doc.md
new file mode 100644
index 00000000000..96875d7b82d
--- /dev/null
+++ b/.changelog/3360.doc.md
@@ -0,0 +1 @@
+Rename Versioning scheme document to Versioning and include it in the index
diff --git a/.changelog/3360.feature.md b/.changelog/3360.feature.md
new file mode 100644
index 00000000000..e31bd1db978
--- /dev/null
+++ b/.changelog/3360.feature.md
@@ -0,0 +1 @@
+go/common/version: Add `MaskNonMajor()` method to `Version` type
diff --git a/docs/index.md b/docs/index.md
index b0507fa2b3e..4ddddacf675 100644
--- a/docs/index.md
+++ b/docs/index.md
@@ -81,3 +81,4 @@ implementations.
 
 * [Architectural Decision Records](adr/index.md)
 * [Release Process](release-process.md)
+* [Versioning](versioning.md)
diff --git a/docs/toc.md b/docs/toc.md
index 28b108ebcbc..971b2fe3ea7 100644
--- a/docs/toc.md
+++ b/docs/toc.md
@@ -48,3 +48,4 @@
 
 * [Architectural Decision Records](adr/index.md)
 * [Release Process](release-process.md)
+* [Versioning](versioning.md)
diff --git a/docs/versioning.md b/docs/versioning.md
index 2cd93e81967..0862ac46fcc 100644
--- a/docs/versioning.md
+++ b/docs/versioning.md
@@ -1,4 +1,4 @@
-# Versioning scheme
+# Versioning
 
 ## Oasis Core
 
@@ -67,21 +67,13 @@ the `MINOR` version must be bumped.
 When only backwards compatible bug fixes are made to a protocol, the `PATCH`
 version should be bumped.
 
-### Pre-Mainnet protocol versioning
+### Version 1.0.0
 
-Until Oasis Network has reached the Mainnet phase, the `MAJOR` version of all
-protocols version is set to 0. This indicates that this is not yet a production
-version of the protocols and backwards incompatible changes may happen
-frequently.
-
-For this reason, Oasis Core currently considers a change in protocol’s minor
-version, a breaking change.
-
-### Mainnet and version 1.0.0
-
-When we will prepare an Oasis Core release for the Mainnet, we will bump the
-protocol versions to version 1.0.0 which will [signify that they are ready for
-production use](https://semver.org/#how-do-i-know-when-to-release-100).
+With the release of [Oasis Core 20.10], we bumped the protocol versions to
+version 1.0.0 which [signified that they are ready for production use](
+https://semver.org/#how-do-i-know-when-to-release-100).
 
 [CalVer]: http://calver.org
 [SemVer]: https://semver.org/
+[Oasis Core 20.10]:
+  https://github.com/oasisprotocol/oasis-core/blob/v20.10/CHANGELOG.md
diff --git a/go/common/version/version.go b/go/common/version/version.go
index 712a0b2a443..a8ecc6eb68f 100644
--- a/go/common/version/version.go
+++ b/go/common/version/version.go
@@ -1,4 +1,7 @@
 // Package version implements Oasis protocol and runtime versioning.
+//
+// For a more detailed explanation of Oasis Core's versioning, see:
+// https://docs.oasis.dev/oasis-core/processes/versioning.
 package version
 
 import (
@@ -12,7 +15,7 @@ import (
 
 // NOTE: This should be kept in sync with runtime/src/common/version.rs.
 
-// Version is a protocol or a runtime version.
+// Version is a protocol version.
 type Version struct {
 	Major uint16 `json:"major,omitempty"`
 	Minor uint16 `json:"minor,omitempty"`
@@ -38,14 +41,15 @@ func (v Version) String() string {
 	return fmt.Sprintf("%d.%d.%d", v.Major, v.Minor, v.Patch)
 }
 
-// MajorMinor extracts major and minor segments of the Version only.
+// MaskNonMajor masks all non-major version segments to 0 and returns a new
+// protocol version.
 //
-// This is useful for comparing protocol version since the patch segment can be
-// ignored.
-func (v Version) MajorMinor() Version {
+// This is useful for comparing protocol versions for backward-incompatible
+// changes.
+func (v Version) MaskNonMajor() Version {
 	return Version{
 		Major: v.Major,
-		Minor: v.Minor,
+		Minor: 0,
 		Patch: 0,
 	}
 }
@@ -74,10 +78,21 @@ var (
 	// the epochtime, beacon, registry, roothash, etc. modules that are
 	// backend by consensus.
 	//
-	// NOTE: Any change in the major or minor versions are considered
-	//       breaking changes for the protocol.
+	// NOTE: Consensus protocol version compatibility is currently not directly
+	// checked in Oasis Core.
+	// It is converted to TendermintAppVersion whose compatibility is checked
+	// via Tendermint's version checks.
 	ConsensusProtocol = Version{Major: 1, Minor: 0, Patch: 0}
 
+	// TendermintAppVersion is Tendermint ABCI application's version computed by
+	// masking non-major consensus protocol version segments to 0 to be
+	// compatible with Tendermint's version checks.
+	//
+	// NOTE: Tendermint's version checks compare the whole version uint64
+	// directly. For example:
+	// https://github.com/tendermint/tendermint/blob/1635d1339c73ae6a82e062cd2dc7191b029efa14/state/validation.go#L21-L22.
+	TendermintAppVersion = ConsensusProtocol.MaskNonMajor().ToU64()
+
 	// Tendermint exposes the tendermint core version.
 	Tendermint = parseSemVerStr(version.TMCoreSemVer)
 
diff --git a/go/common/version/version_test.go b/go/common/version/version_test.go
index 41662dd2f8d..09d26ea08f6 100644
--- a/go/common/version/version_test.go
+++ b/go/common/version/version_test.go
@@ -6,16 +6,16 @@ import (
 	"github.com/stretchr/testify/require"
 )
 
-func TestMajorMinor(t *testing.T) {
+func TestMaskNonMajor(t *testing.T) {
 	require := require.New(t)
 
 	v1 := Version{1, 1, 0}
 	v2 := Version{1, 1, 5}
-	v3 := Version{1, 1, 10}
-	require.Equal(v1.MajorMinor(), v2.MajorMinor(), "version.MajorMinor() should match")
-	require.Equal(v2.MajorMinor(), v3.MajorMinor(), "version.MajorMinor() should match")
-	v4 := Version{1, 2, 0}
-	require.NotEqual(v1.MajorMinor(), v4.MajorMinor(), "version.MajorMinor() should not match")
+	v3 := Version{1, 4, 10}
+	require.Equal(v1.MaskNonMajor(), v2.MaskNonMajor(), "version.MaskNonMajor() should match")
+	require.Equal(v2.MaskNonMajor(), v3.MaskNonMajor(), "version.MaskNonMajor() should match")
+	v4 := Version{2, 1, 0}
+	require.NotEqual(v1.MaskNonMajor(), v4.MaskNonMajor(), "version.MaskNonMajor() should not match")
 }
 
 func TestParseSemVer(t *testing.T) {
diff --git a/go/consensus/tendermint/abci/mux.go b/go/consensus/tendermint/abci/mux.go
index dfb581358c0..0ecd25b4336 100644
--- a/go/consensus/tendermint/abci/mux.go
+++ b/go/consensus/tendermint/abci/mux.go
@@ -270,7 +270,7 @@ func (mux *abciMux) registerHaltHook(hook func(context.Context, int64, epochtime
 
 func (mux *abciMux) Info(req types.RequestInfo) types.ResponseInfo {
 	return types.ResponseInfo{
-		AppVersion:       version.ConsensusProtocol.ToU64(),
+		AppVersion:       version.TendermintAppVersion,
 		LastBlockHeight:  mux.state.BlockHeight(),
 		LastBlockAppHash: mux.state.BlockHash(),
 	}
@@ -767,7 +767,7 @@ func (mux *abciMux) EndBlock(req types.RequestEndBlock) types.ResponseEndBlock {
 	// Update version to what we are actually running.
 	resp.ConsensusParamUpdates = &types.ConsensusParams{
 		Version: &tmproto.VersionParams{
-			AppVersion: version.ConsensusProtocol.ToU64(),
+			AppVersion: version.TendermintAppVersion,
 		},
 	}
 
diff --git a/go/consensus/tendermint/api/genesis.go b/go/consensus/tendermint/api/genesis.go
index f58b813fdf6..ff2663ebadb 100644
--- a/go/consensus/tendermint/api/genesis.go
+++ b/go/consensus/tendermint/api/genesis.go
@@ -111,7 +111,7 @@ func genesisToTendermint(d *genesis.Document) (*tmtypes.GenesisDoc, error) {
 				PubKeyTypes: []string{tmtypes.ABCIPubKeyTypeEd25519},
 			},
 			Version: tmproto.VersionParams{
-				AppVersion: version.ConsensusProtocol.ToU64(),
+				AppVersion: version.TendermintAppVersion,
 			},
 		},
 		AppState: b,
diff --git a/go/consensus/tendermint/full/statesync.go b/go/consensus/tendermint/full/statesync.go
index b802b391228..959e83c6696 100644
--- a/go/consensus/tendermint/full/statesync.go
+++ b/go/consensus/tendermint/full/statesync.go
@@ -59,7 +59,7 @@ func (sp *stateProvider) State(ctx context.Context, height uint64) (tmstate.Stat
 		InitialHeight: sp.genesisDocument.InitialHeight,
 	}
 	// XXX: This will fail in case an upgrade happened in-between.
-	state.Version.Consensus.App = version.ConsensusProtocol.ToU64()
+	state.Version.Consensus.App = version.TendermintAppVersion
 
 	// The snapshot height maps onto the state heights as follows:
 	//
diff --git a/go/consensus/tendermint/seed/seed.go b/go/consensus/tendermint/seed/seed.go
index 2b0c629e92c..26616c1b7cd 100644
--- a/go/consensus/tendermint/seed/seed.go
+++ b/go/consensus/tendermint/seed/seed.go
@@ -341,7 +341,7 @@ func New(dataDir string, identity *identity.Identity, genesisProvider genesis.Pr
 		ProtocolVersion: p2p.NewProtocolVersion(
 			tmversion.P2PProtocol,
 			tmversion.BlockProtocol,
-			version.ConsensusProtocol.ToU64(),
+			version.TendermintAppVersion,
 		),
 		DefaultNodeID: nodeKey.ID(),
 		ListenAddr:    viper.GetString(tmcommon.CfgCoreListenAddress),
diff --git a/go/consensus/tendermint/tests/genesis/genesis.go b/go/consensus/tendermint/tests/genesis/genesis.go
index 9e1e5d76149..1cf9f20b6af 100644
--- a/go/consensus/tendermint/tests/genesis/genesis.go
+++ b/go/consensus/tendermint/tests/genesis/genesis.go
@@ -93,7 +93,7 @@ func NewTestNodeGenesisProvider(identity *identity.Identity) (genesis.Provider,
 		AppState:        b,
 	}
 	tmDoc.ConsensusParams.Version = tmproto.VersionParams{
-		AppVersion: version.ConsensusProtocol.ToU64(),
+		AppVersion: version.TendermintAppVersion,
 	}
 
 	nodeID := identity.ConsensusSigner.Public()
diff --git a/go/runtime/host/protocol/connection.go b/go/runtime/host/protocol/connection.go
index 36550cc546d..93ec458a8e2 100644
--- a/go/runtime/host/protocol/connection.go
+++ b/go/runtime/host/protocol/connection.go
@@ -530,7 +530,7 @@ func (c *connection) InitHost(ctx context.Context, conn net.Conn) (*version.Vers
 	}
 
 	info := rsp.RuntimeInfoResponse
-	if ver := version.FromU64(info.ProtocolVersion); ver.MajorMinor() != version.RuntimeHostProtocol.MajorMinor() {
+	if ver := version.FromU64(info.ProtocolVersion); ver.Major != version.RuntimeHostProtocol.Major {
 		c.logger.Error("runtime has incompatible protocol version",
 			"version", ver,
 			"expected_version", version.RuntimeHostProtocol,
diff --git a/go/worker/common/p2p/p2p.go b/go/worker/common/p2p/p2p.go
index 61d58642e27..b694756617e 100644
--- a/go/worker/common/p2p/p2p.go
+++ b/go/worker/common/p2p/p2p.go
@@ -161,9 +161,9 @@ func (p *P2P) handleConnection(conn core.Conn) {
 }
 
 func (p *P2P) topicIDForRuntime(runtimeID common.Namespace) string {
-	return fmt.Sprintf("%s/%s/%s",
+	return fmt.Sprintf("%s/%d/%s",
 		p.chainContext,
-		version.RuntimeCommitteeProtocol.MajorMinor().String(),
+		version.RuntimeCommitteeProtocol.Major,
 		runtimeID.String(),
 	)
 }
diff --git a/runtime/src/common/version.rs b/runtime/src/common/version.rs
index de5f7695086..b34cab84c2e 100644
--- a/runtime/src/common/version.rs
+++ b/runtime/src/common/version.rs
@@ -30,17 +30,6 @@ impl Version {
             patch: patch,
         }
     }
-
-    /// Extract major and minor segments of the Version only.
-    ///
-    /// This is useful for comparing protocol version since the patch segment can be ignored.
-    pub fn major_minor(&self) -> Version {
-        Version {
-            major: self.major,
-            minor: self.minor,
-            patch: 0,
-        }
-    }
 }
 
 // Returns the version as a platform-dependent u64.