Yes! We use semantic versioning, so there is a major, minor and patch version for each release. The major version number is part of the URL.
We try to keep the API backwards compatible, and adhere to the following approach:
Where a release contains no breaking changes then the major version number is unchanged – and so the URL you use to access the API remains the same. In this case either the minor version or patch version number is incremented.
Where a release contains breaking changes (for example where endpoints have been removed, or fields removed or changed within data models), the major version is incremented. This means that the URL to access the new version is different. We will aim to support at least the previous version in parallel with the new version for a period, giving you time to switch to the new API version at a time that suits you.
Your client application can use the /serverinformation endpoint to find out the exact build number of the current version.