understanding jquery versions

understanding jquery versions

Hello guys
I started using jquery feb this 2018 and have been using it with visual studio and Microsoft MVC .NetCore

However I have a few questions,

Visual studio by default puts version 1..x in all developed pages and I was reading the docs on the jquery website and it says version jQuery 3.3.1 is out and versions 1x and 2x will not be receiving patches anymore

I take it that I must upgrade and the versions 3x are backward compatible to my projects ?

many thanks
Ehi