Can I keep projects both on Ionic 2 and Ionic 3 in the same machine?

Ionic Framework ionic-v3
1

I want to update Ionic to version 3, and have a previous app in Ionic 2.2.1. Is there any chance of problems occurring in Ionic 2 project if I update to Ionic 3 ? I actually need both projects, both in Ionic 2 and Ionic 3. Please suggest.