It is always recommended to stay up to date with the latest version of any software to avoid running into unnecessary bugs by receiving the latest updates from us. One most important thing to remember everytime before you run an upgrade: Backup.
Make it a habit to run a backup before uninstalling ANY component; this includes EasyBlog. There are many ways to backup your site, but please stick with what you're comfortable with. We would like to recommend you to read through this documentation on Backing Up Your Site.
Basically, upgrading is just as simple as installing the component.
Please choose which version you're upgrading from: