Channels in Golang allow goroutines to communicate by passing values. Channels can be synchronous or asynchronous. Synchronous channels block until a value is received, while asynchronous channels use a buffer. The select statement allows waiting on multiple channels. Channels use an hchan structure to track metadata like send/receive queues. When a channel is closed, it unblocks all waiting goroutines and causes send operations to panic. Only the sender should close a channel to avoid panics.