what is sys library in python code example

Example: sys python

def displayhook(value):
    if value is None:
        return
    # Set '_' to None to avoid recursion
    builtins._ = None
    text = repr(value)
    try:
        sys.stdout.write(text)
    except UnicodeEncodeError:
        bytes = text.encode(sys.stdout.encoding, 'backslashreplace')
        if hasattr(sys.stdout, 'buffer'):
            sys.stdout.buffer.write(bytes)
        else:
            text = bytes.decode(sys.stdout.encoding, 'strict')
            sys.stdout.write(text)
    sys.stdout.write("\n")
    builtins._ = value