[CentOS] CentOS 6 updating policy

I am migrating from debian to RHEL (CentOS) and I am wondering how the
CentOS 6 updating system works.


Suppose I install CentOS 6.1 now. Suppose in 8 months CentOS 6.2 is
released.


Now I issue a yum update, so my system will be updated to CentOS 6.2, or I
will have an updated 6.1 ?


What if I have been issuing yum update very day just to be sure there are
no packages with urgent security bugs ? I am having a very updated 6.1 or
an almost 6.2 ? Or are they the same thing ? I think that during this time
I should be using Continous Release repository, right ?


Also, which is the policy regarding new versions of software, kernel and
libs ? The bugfixes will be backported or there will be major differences
between, let’s say, 6.1 and 6.4 ?


I couldn’t find all of these question properly answered in the FAQs


Thanks in advance.


Regards,

David