RxJava is a library for reactive programming that allows developers to work with asynchronous data streams using Observables in a declarative style. It was developed at Netflix as the core technology for their backend and is based on the Observer design pattern. RxJava provides syntactic sugar to simplify working with Observables, operators like flatMap to manipulate streams of data, and Schedulers to control concurrency. There are also Rx bindings for other languages and frameworks like RxPY and RxJdbc.