Event-Driven Architecture is a key concept in Node.js that facilitates non-blocking I/O operations, making it extremely efficient for building scalable applications. In this architecture, the flow of the application is determined by events, and actions are taken in response to those events. This means that when an event occurs, such as an incoming HTTP request, the event loop in Node.js listens for these events and dispatches them to the appropriate callbacks, allowing multiple operations to be initiated without waiting for previous operations to complete. This model is particularly beneficial for real-time applications, where speed and responsiveness are critical.

Understanding the inner workings of Node.js's event-driven architecture also involves recognizing its key components, including the EventEmitter class and the event loop. The EventEmitter is a core part of Node.js that allows objects to listen for and emit events, making it easy to build asynchronous applications. Moreover, the event loop is a constantly running loop that processes the events in the event queue, ensuring that Node.js can handle numerous connections simultaneously. By leveraging the principles of event-driven architecture, developers can create applications that are not only fast and efficient but also highly maintainable.

Node.js has rapidly gained popularity among developers for its efficiency and versatility in web development. Here are 5 compelling reasons why Node.js should be your go-to choice for your next web project:

1. High Performance: Built on the V8 JavaScript engine, Node.js executes code at lightning speed, making it perfect for applications that require real-time interactions, such as chat apps and online gaming.
2. Scalability: Its non-blocking I/O model allows for handling multiple connections simultaneously, which is crucial for growing applications aimed at handling increased traffic without compromising performance.

3. Single Language Development: With Node.js, both front-end and back-end can be developed in JavaScript, promoting a unified development experience that streamlines collaboration between teams.
4. Rich Ecosystem: The vast array of libraries available through npm (Node Package Manager) makes it easy to add functionalities, saving developers significant time and enhancing project efficiency.
5. Active Community: An extensive and active community ensures a wealth of resources for troubleshooting, sharing best practices, and keeping abreast of new trends, making Node.js a sustainable choice for the long term.

Node.js is a powerful JavaScript runtime built on Chrome's V8 engine, allowing developers to execute JavaScript code server-side. To get started, you’ll first need to install Node.js on your machine. Visit the official Node.js website and download the installer suitable for your operating system. After installation, verify it by opening your command line interface and typing node -v. This command will display the current version of Node.js installed, ensuring everything is set up correctly.

Once you have Node.js installed, the next step is to learn about the Node Package Manager (NPM), which comes bundled with Node.js. NPM allows you to easily install libraries and frameworks that can expedite your development process. To create your first Node.js application, follow these steps:

1. Create a new directory for your project.
2. Navigate to that directory in your terminal.
3. Run npm init to initialize a new project.
4. Start coding by creating a file named app.js and writing some simple code, like console.log('Hello World');.