Cap'n Proto is a fast, compact binary serialization protocol that is similar to Protocol Buffers. It allows for platform-independent serialization of structured data and supports cross-language RPC using an event-driven model like Node.js. Data is defined using a .capnp schema file that generates code for serialization/deserialization. It supports primitive types, lists, structs, and other features. RPC uses an interface definition and promises to allow for asynchronous calls between clients and servers with "time travel" capabilities.