How does the Event Loop mechanism in Node.js contribute to its non-blocking I/O feature, impacting performance positively?

It uses multi-threading to execute I/O operations concurrently.
It queues I/O operations and executes them in a single thread, preventing blocking.
It blocks the execution until I/O operations are complete.
It relies on external libraries for I/O, reducing performance.

Node.js uses an event loop to queue I/O operations and execute them asynchronously in a single thread, preventing blocking and maximizing performance. The other options describe incorrect behaviors or consequences of the event loop mechanism.

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