Prometheus is an open-source monitoring system that collects metrics from configured targets at given intervals, stores time series data in a compact format, and allows for querying and alerting on that data. It was created at SoundCloud in 2012 to address the challenges of monitoring hundreds of microservices and thousands of instances. Prometheus uses a dimensional data model with labels rather than nested metrics, and its query language PromQL allows for time series computations and aggregation across instances.