OpenResty is a high-performance web platform based on Nginx, designed to easily build scalable web applications, web services, and dynamic web gateways. It integrates Nginx with a set of highly reusable components that facilitate handling of HTTP-based applications. OpenResty allows developers to run scripts written in Lua directly inside the Nginx server, enabling high concurrency and non-blocking I/O. It is ideal for handling high-traffic and complex web applications requiring real-time data updates.