Git is a distributed version control system that allows multiple developers to work on the same project without interfering with each other. It is particularly renowned for its ability to handle large projects with speed and efficiency, managing complex code bases and multiple project versions simultaneously. Git operates on a local and remote repository structure, where changes are made locally and then pushed to a central repository when ready. This setup enhances collaboration by allowing individual developers to work independently on their parts of a project and then merge changes into the main code base without conflict. Git's robust branching and merging capabilities make it a staple in modern software development, providing a reliable platform for continuous integration and delivery.