Swoole is a C extension for PHP that provides asynchronous network capabilities for high concurrency. It allows PHP to have an event-driven architecture and non-blocking I/O like Node.js. Swoole uses coroutines to schedule blocking I/O so it does not block the entire process. Benchmark tests showed Swoole can achieve much higher concurrency than traditional PHP. Companies like Facebook use Swoole for services that require high performance and scalability.