Traditional version control helps you backup, track and synchronize files. Distributed version control makes it easy to share changes. Done right, you can get the best of both worlds: simple merging and centralized releases.
Distributed? What’s wrong with regular version control?
Nothing — read a visual guide to version control if you want a quick refresher. Sure, some people will deride you for using an “ancient” system. But you’re still OK in my book: using any VCS is a positive step forward for a project.
Centralized VCS emerged from the 1970s, when programmers had thin clients and admired “big iron” mainframes (how can you not like a machine with a then-gluttonous 8 bits to a byte?).