Once you've reconciled and reviewed any conflicts, you can post the changes by clicking the Post button on the Versioning toolbar. Other users reading the target version to which you've posted do not see the results of the post until they refresh their versioned workspaces. Posting cannot be undone, since you are applying changes to a version you are not currently editing.
The post operation can only complete if the target version has not been modified since the reconcile operation completed. If the target version has been modified in the interim, you will have to reconcile again before posting.
After posting, you may continue to make more edits in your edit session. To apply these changes to the target version, you will need to undergo the reconciliation, conflict resolution, and posting processes again.
If posting marks the end of your project or your part of the workflow, you can delete the version you've been editing with ArcCatalog or ArcMap. You can delete a version provided all its child versions are first deleted. Only the version's owner can delete a version.