Object identifiers (OIDs) are used to uniquely identify objects in a network. They are hierarchical, with each level of the hierarchy representing a different aspect of the object. The top level of the hierarchy is the root OID, which is assigned by the International Telecommunications Union (ITU). The next level down is the enterprise OID, which is assigned by the organization that manages the object. The bottom level of the hierarchy is the local OID, which is assigned by the individual organization that owns the object.
The OID version is a number that indicates the version of the OID standard that is being used. The current version of the OID standard is version 3.