The Eye was a holographic simulator run by a liquid memory core at Terra Nova.
Jim Shannon and his daughter, Zoe Shannon, visited the Eye, where they witnessed the house where Zoe was born, and "rode" a roller coaster, only to be interrupted when a meteor strike cut out the power. They were trapped inside the chamber, but Zoe was able to help them escape.
As Jim explained the facility to Zoe, "Some people call this place The Eye, because you can see all of history from here. It's all stored in this liquid memory core. It's kind of like a great big library that has everything we know in one spot." ("Nightfall")
Maddy Shannon later accessed the Eye because she suspected that scientist Ken Horton was being impersonated. She was informed that the real Horton had had his eyes aand hands removed by his assistant, Andrew Fickett. This allowed Fickett to have a "facer" make his appearance match that of Horton, so that he could take the famous scientist's place in the Fifth Pilgrimage. ("Proof")
In "Within", when Lucas Taylor had nearly solved the problem of how to transport people back from Terra Nova to the 2149 via the Time Portal, he needed the computing power of the Eye to help him quickly finish calculations which would otherwise take him weeks, so he gave Skye Tate a data card to bring to the Eye and interface with it. Since he threatened to kill her mother if she didn't do it, Skye cooperated, and the Eye was able to complete the calculations in a short time.
- The roller coaster is the Superman Escape on the Gold Coast, Queensland, Australia, near where Terra Nova was shot.
- After the EMP in "Nightfall", Zoe looks at the liquid memory core and asks "Why is this thing still on?" Jim answers, "'cause it's shielded, and it has its own power supply." The shield might be a type of Faraday cage, which blocks out sudden changes in external electromagnetic fields (and also prevents internal fields from leaking out, which is why they are used in microwave ovens).
- The dream of having all information ever published—in books, videos, and the internet—available in a single search-able computer archive is one that people have been working on in real life, as discussed in this article. Jim's description of The Eye as "a great big library that has everything we know in one spot" suggests that by the 22nd century, this has become a reality.