Vert.x is a reactive toolkit that allows applications to be built in a reactive and resilient manner. It uses asynchronous message passing with loose coupling between components. Vert.x applications are composed of isolated execution units called verticles that communicate asynchronously through an event bus. It supports polyglot development in Java, JavaScript, Ruby, and Groovy. Key features include the event bus for communication between verticles, and modules for web applications, data access, security, and reactive programming.