The pandas library provides easy-to-use data structures and tools for data analysis but can be slow with large amounts of data. Modin is a library that mitigates these issues by providing benefits such as scalability, integration with the Python ecosystem, and Ray clusters. Modin's coverage of the pandas API is over 90% and focuses on commonly used methods like pd.read_csv, pd.DataFrame, df.fillna, and df.groupby. To get started with Modin, one needs to install it and change the import statement from `import pandas as pd` to `import modin.pandas as pd`. Modin can speed up pandas workflows by utilizing multicore/multinode support, system architecture, and ease of use. Modin's API covers most of the pandas API, but if a method is not implemented in Modin, it defaults to a pandas implementation. Modin has an optimal system architecture that includes APIs layer, Query Compiler layer, DataFrame layer, and Execution layer, with Ray being the default execution engine. Modin allows users to scale their code to multiple nodes, making it easier to work with large datasets.