Web Assembly (Wasm) is a new format for running compiled code on the web. It aims to provide better performance than JavaScript by allowing code written in languages like C/C++ to run in the browser as fast native code. Wasm modules define functions, memory, and other objects and can be compiled to a small size and load quickly. It features a portable binary format and JavaScript integration, allowing compiled code to interface with web APIs and DOM. Wasm pursues goals of portability, security, and integration with web standards to enhance browser performance without plugins.