MVCC, or Multi-Version Concurrency Control, is the technology that PostgreSQL uses to avoid unnecessary locking. If you have ever used another SQL capable DBMS, such as MySQL or Access, you have probably noticed that there are times when a reader has to wait for access to information in the database. The waiting is caused by people who are writing to the database. In short, the reader is blocked by writers who are updating records.
By using MVCC, PostgreSQL avoids this problem entirely. MVCC is considered better than row-level locking because a reader is never blocked by a writer. Instead, PostgreSQL keeps track of all transactions performed by the database users. PostgreSQL is then able to manage the records without causing people to wait for records to become available.