Version Control System is very popular now a days and It should be as there are lots many problems that has been resolved that we were facing during the development.
Version Control System (also known as Revision control , source control or (source) code management (SCM)) is the management of multiple revisions of the same unit of information. It is most commonly used in engineering and software development to manage ongoing development of digital documents like application source code, art resources such as blueprints or electronic models, and other projects that may be worked on by a team of people. Changes to these documents are usually identified by incrementing an associated number or letter code, termed the “revision number”, “revision level”, or simply “revision” and associated historically with the person making the change. A simple form of revision control, for example, has the initial issue of a drawing assigned the revision number “1″. When the first change is made, the revision number is incremented to “2″ and so on.
Please check the small presentation on Version Control System