Event Loop is a major component of Node.js architecture which handles the execution of JavaScript code and handles asynchronous operations in Node.js.
Node.js is a single-threaded application, and to make it efficient and support concurrency, it uses an event-driven, non-blocking I/O model. The Event Loop allows Node.js to perform non-blocking I/O operations by offloading operations to the system kernel whenever possible.
The basic steps in an event loop are:
1. Execute the script, which may make asynchronous requests.
2. Perform the requested operations.
3. Execute the callback, when the requested operation completed.
4. Close the process after the callback has been executed.
It’s important to note that Node.js is designed to build scalable network applications and the event loop is intimately related to this purpose. It helps to facilitate the management of multiple connections, reducing the overhead of creating a large number of threads.