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Most development teams at least try to follow the Semver standard:

  1. MAJOR version when you make incompatible API changes,
  2. MINOR version when you add functionality in a backwards-compatible manner, and
  3. PATCH version when you make backwards-compatible bug fixes.

The exception is if you're bumping a major version number for marketing reasons, like creating the iPhone 10 even though you never did an iPhone 9.

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