SNMPv3 implementation & co-existence

Hi All
I have few basic questions on snmpv3 implementation in net-snmp.
Please bear with me for the trivial questions.

Is the Co-existence mib being implemented in net-snmp?
If No, how is the co-existence of v1,v2c and v3 being achieved?

How and where the community strings for v1 and v2c are being created and verified?
It would be of great help if somebody can explain these.

Thanks in Advance.

Thanks & Regards
Anuradha.A

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