Oracle Coherence is a distributed in-memory data grid solution that provides a single consistent view of data across multiple nodes. It ensures high availability and scalability. Coherence distributes data and backups across nodes so that the failure of a single node does not result in data loss. It uses a peer-to-peer protocol for fast consensus and scalable communication between nodes. Coherence provides features like caching, transactions, events, and querying for building scalable applications.