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It's not strictly NodeJS based - According to their site it runs on top of Lua...

There's also another JavaScript microcontroller crowdfunding at the moment: http://www.kickstarter.com/projects/48651611/espruino-javasc...

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AFAICT the Espruino and Tessel are slightly different. The Espruino's focus seems to be providing an ultracompact, low-power, very simple JS-powered Arduino, which (with physical adapter) could be used with existing Arduino shields. The Tessel seems to be focused more on the interfacing-with-the-internet side of things, with built-in wifi.

I think there's plenty of room for both, and it's exciting to see continued efforts towards making it easier to bridge the gap between embedded devices and the software world!

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