Version control retains a copy of previous files instead of deleting them whenever it is enabled for a file upload. To see it in action:
- Upload the original file with version control turned on
- Upload a changed version of the file as a replacement
- Note that the previous file is replaced by the latest one
- Look at the "Previous Versions" tab and you will see a link to download the previous file
If version control is turned off that "Previous Versions" tab is not available.