There are two kinds of tasks you may add in the Task List page.
Add Tasks: Creates a normal task where you can input the Title, Category, Status (Important Marker), Due Date, Visibility control, Description and upload Attachments.
Add Essay: Creates a special Essay-Task that has all the functions of the normal task, but with the added capability of version control. Version control is a function where every document uploaded into the Essay-Task, creates a label that automatically increases with each new upload. Past versions remain accessible through the Show more button.
Labels will help you to track the different versions of the Essay-Task you have uploaded (i.e. v2 means version 2).
You can even change the title of the label by clicking on it and typing in your preferred title. To save your new title, click on the 'tick' icon. This is what an Essay task looks like on the Task List page: