The TRACE Observatory is the first solar-observing satellite in the National Aeronautics and Space Administration's (NASA) Small Explorer series. Launched April 2, 1998, it is providing views of the solar transition region and low corona with unprecedented spatial and temporal resolution. The corona is now seen to be highly filamented, and filled with flows and other dynamic processes. Structure is seen down to the resolution limit of the instrument, while variability and motions are observed at all spatial locations in the solar atmosphere, and on very short time scales. Flares and shock waves are observed, and the formation of long-lived coronal structures, with consequent implications for coronal heating models, has been seen. This overview describes the instrument and presents some preliminary results from the first six months of operation.