The Kappa Architecture is a data processing architecture that aims to handle both real-time and batch processing needs using a single streaming-based system. It contrasts with the Lambda Architecture by eliminating the separate batch processing layer, instead relying on the stream processing engine and a durable event log (like Kafka) to reprocess historical data if needed. Systems like RisingWave align well with the Kappa philosophy by providing a unified platform for stream processing and serving.