Torodb is an open-source, MongoDB-compatible database designed on PostgreSQL, which aims to merge the benefits of document-oriented data models with the durability and flexibility of relational databases. It organizes data into hierarchical 'subdocuments' stored in separate tables, promoting efficient querying and reduced storage compared to MongoDB. The project, launched as a developer preview, emphasizes enhanced features like atomic bulk operations, clean reads, and high concurrency, targeting a full version release in late 2015.