Transactional Memory is a concurrency control mechanism that simplifies the process of managing shared memory in multi-threaded applications. It allows multiple threads to execute code sections, called transactions, without worrying about conflicts. If a transaction encounters a conflict, it can be rolled back and retried, ensuring data consistency. This approach is similar to database transactions, where operations are completed as a single unit. By using Transactional Memory, developers can write cleaner and more efficient code, reducing the complexity associated with traditional locking mechanisms. This can lead to improved performance and easier debugging in concurrent programming environments.