Rendering Pipeline (Unity Plugin)
V2.7 of the plugin introduced a number of optimizations in the way particles are rendered, depending on the Unity version used.
This article describes the differences of the rendering steps.
Unity 4.X or pre-2.7
This is how the rendering was done for all versions of Unity until v2.7 (excluded).
Unity 5.0 to 5.1
This is the most optimized one, takes advantage of the CommandBuffer's native render event command.