Modelling versioning in Postgres

Hi

I was wondering what the current thinking is on ways to model versioning in Postgres.

The overall premise is that the latest version is the current version unless a rollback has occurred, in which case
versionsget tracked from the rollback point (forking ?). 

My initial naïve starting point is something along the lines of :

create table objects (
objectID uuid,
versionID uuid,
versionTS timestamp
objectData text
);

This obviously creates a fool-proof answer to "latest version is the current version" because its a simple case of an
"whereobjectID=x order by versionTS desc limit 1" query.  However it clearly doesn't cover the rollback to prior
scenarios.

I then though about adding a simple "versionActive boolean".

But the problem with that is it needs hand-holding somewhere because there can only be one active version and so it
wouldintroduce the need for a "active switch" script somewhere that activated the desired version and deactivated the
others. It also perhaps is not the right way to deal with tracking of changes post-rollback. 

How have others approached the problem ?

N.B. If it makes any difference, I'm dealing with a 12.5 install here, but this could easily be pushed up to 13 if
thereare benefits. 

Thanks for your time.

Laura