As far as I know, this right determines which version of the rails will be used by your application as a whole. I know, for the project in which I am now, I had to override this in 2.1.1 to work with my virtual machine, because I installed the latest version and did not specify 2.1.0 as required by the project.
The most important things that you should pay attention to are plugins and extensions that can override this parameter, as well as incompatibility, which is likely to arise due to version changes.
There are also some known issues with 2.1.1, unless you need a function, you can wait.
Adam
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