A timer module containing multiple functions for the execution of the code after a specific time period is provided by Node.js. Some of the functions provided in this module are:
process.nextTick : This function schedules a callback function which is required to be invoked in the next iteration of the event loop
setTimeout/clearTimeout : This function schedules code execution after the assigned amount of time (in milliseconds)
setImmediate/clearImmediate : This functions executes code at the conclusion of the existing event loop cycle
setInterval/clearInterval : This function is used to execute a block of code a number of times
