BitBucket is a version control software and web-based hosting service for developers that allows for collaborative code development. It serves as a centralized storage system for source code, making it easier to manage, share and track changes during the development process. It also allows for easy integration with other development tools, such as JIRA, Jenkins and Bamboo. BitBucket provides a secure, private repository for teams to collaborate on projects and manage their source code. With its range of tools, BitBucket is an ideal platform for teams to collaborate on software development projects.