SOAP is a protocol specification for exchanging structured information between applications, typically in a decentralized, distributed environment. It uses XML as its message format and relies on other protocols like HTTP for message negotiation and transmission.
SOAP has a basic structure that includes an envelope, header, body, and optional fault element. It allows for lightweight communication between applications across different operating systems and programming languages. While it provides advantages like portability and interoperability through open standards, SOAP can be slower than other middleware technologies due to its verbose XML format.