Nova is a new JavaScript runtime engine developed using Rust, emphasizing performance through a data-oriented design approach. While the main developer invites questions from the community, they note that the project is still in the early stages of development and is not yet fully functional. The emphasis on 'cache-friendly' architecture suggests that Nova aims to compete with existing non-JIT (Just-In-Time) runtimes by improving execution speed. There is acknowledgment of the growing saturation of JavaScript runtimes and frameworks, indicating a crowded market for such technologies. Overall, while Nova presents an interesting proposition, its current nascent state means that potential users should watch its development closely rather than adopt it immediately.