There are two versions of public licenses in a well-known license for free software. GPLV2 is the predecessor and the GPLV3 is the newest version. The GPLV2 was introduced in 1991, and GPLV3 came out in 2007. GPLV2 is the older model, and GPLV2 has a library omission that the GPLV3 does not have. GPLV3 is double in length, and it is concerned about the issues of improvement and clarification in the former version. GPLV3 is more compatible, and it can honor more and different licenses. The new license permits users to make combinations with code that have additional requirements that are not in the license itself. GPLV 2 and 3 are incompatible.
GPLV2 is known to be the older model between the two. It will be safe to assume that GPLV3 comes with some features that its predecessor does not have. Since the GPLV2 is older, this was first presented to the public in the year 1991. It ran for a lot of years, and it was used until the GPLV3 was introduced in the market in the year 2007. The licenses are different too. One main difference between the two is that GPLV2 has a library exclusion, but the GPLV3 does not have a library exclusion. Between the two, GPLV3 is less open as compared to GPLV2.