The Versions feature in Lightroom is interesting, but it is NOT the same as Virtual Copies, and the way it works could mean lost edits and lots of frustration if you don’t understand what it’s doing.
Snapshot (history)
A Snapshot is a record of the current image state while you’re editing it. You can create a Snapshot in Photoshop or Lightroom when you reach a point that you think you might want to return to during editing. You can save a number of Snapshots to quickly compare different editing steps.