What is a Git repository and what is its purpose?

A Git repository is a virtual storage space where a project's files and revision history are stored. It allows multiple developers to collaborate on a project by tracking changes, resolving conflicts, and maintaining a complete history of all modifications.

The purpose of a Git repository is to provide a central location for version control, enabling developers to track changes, coordinate work, and maintain a consistent codebase. It also helps in managing different branches, merging code changes, and facilitating code review processes.