Node.js is a platform for building scalable server-side web applications using JavaScript. It uses non-blocking I/O and event-driven architecture to handle thousands of concurrent connections with high throughput and low latency. Some key features include using Google's V8 JavaScript engine, support for CommonJS modules, asynchronous and event-driven programming, and a large ecosystem of open-source modules. Node.js is particularly suited for real-time web applications that require bidirectional communication.