Node.js is an open-source, cross-platform JavaScript runtime environment that allows developers to build fast and scalable network applications. It is designed to be event-driven, non-blocking, and lightweight, making it ideal for building real-time web applications and APIs. Some of its benefits are:

• Great for building server-side web applications.
• Scalable and high-performance.
• Large and active community support.
• Easy to learn and use.

However, there are also some drawbacks to using Node.js:

• Not suitable for CPU-intensive tasks.
• Relatively new, so some features may not be well-documented.
• Can lead to callback hell if not properly structured.