Node.js is an open source server framework which runs on various platforms/ cross platforms (Windows, Linux, UNIX, Mac OS X, etc.).
It is a platform built on Chrome's JavaScript runtime for easily building fast and scalable network applications. It uses an event-driven, non-blocking I/O model that makes it lightweight and efficient for real-time applications those run across distributed devices.
It also provides a rich library of various JavaScript modules to simplify the development of web applications.
Node.js = Runtime Environment + JavaScript Library
Few Important parts of Node JS
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