Postgres update database version at regular intervals. Major PostgreSQL version is released every year and minor versions are released at least once every three months.
Each major version focus on improving or adding new features and fixing known bugs if they appear during previous version and minor versions basically focus on any ongoing security concern.
Official Document on Versioning Policy.
https://www.postgresql.org/support/versioning/
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Check PostgreSQL Version using PSQL Command Line
bash-4.1$ psql postgres=# SELECT version(); postgres=# SHOW server_version;
As you can see above, Postgres 12.1 version is running on Linux RHEL 64 bit.
Checking PostgreSQL Version from Command Line
NOTE: set Postgres env or else check the path of postgres executable location inside bin directory as below.
bash-4.1$ locate bin/postgres /usr/lib/debug/usr/pgsql-12/bin/postgres.debug /usr/pgsql-12/bin/postgres bash-4.1$ /usr/pgsql-12/bin/postgres --version postgres (PostgreSQL) 12.1 bash-4.1$ /usr/pgsql-12/bin/postgres -V postgres (PostgreSQL) 12.1
To Check Client Version.
You can use anyone of the below command to check PostgreSQL Client version.
bash-4.1$ psql --version psql (PostgreSQL) 12.1 bash-4.1$ psql -V psql (PostgreSQL) 12.1