Each version captures a snapshot of the files at a certain point in time and the VCS allows you to switch between these versions.These versions are stored in a specific place, typically called a You may, for example, revert the collection of files to a state from 2 days ago.In a localized version control systems it is the individual computer and in a centralized version control systems it is the server machine.Both system makes it also harder to work in parallel on different features.For example, you may use a VCS to track the different versions of a png file.
Of course, Git also supports the creation of new repositories.
Typically, there is a central server for keeping a repository but each cloned repository is a full copy of this repository.
The decision which of the copies is considered to be the central server repository is pure convention.
For example, you can work independently on a branch called Branches in Git are local to the repository.
A branch created in a local repository does not need to have a counterpart in a remote repository.