Myelin sheath is a layer made primarily of fats and present on the axon. It acts as an insulator, protects the neuron, and supports rapid transmission of impulses.
The myelin sheath is present in a discontinuous manner. Nodes of Ranvier are the gaps or spaces that are present between the myelin sheath.
It helps to conduct the nerve impulses rapidly.
Final answer
Gaps in myelin sheath enclosing the axon are known as nodes of Ranvier.