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In this case threads outperform Async. Because Async like a single threaded program executes your tasks in order. But threads can execute both the tasks simultaneously.
Tasks + async / await are faster in this case than a pure multi threaded code. It's the simplicity which makes async / await so appealing. writing a synchronous code which is actually asynchronous.
Concurrency is having two tasks run in parallel on separate threads. However, asynchronous methods run in parallel but on the same 1 thread.
In C#, by default method executes in a synchronous manner. As we see in the above diagram, synchronous methods get blocked until execution of previous request is completed whereas in asynchronous execution an await expression in an async method doesn't block the current thread while the awaited task is running.
Whenever the operation that needs to happen asynchronously does not require the CPU to do work, that operation can be done without spawning another thread. For example, if the async operation is I/O, the CPU does not have to wait for the I/O to complete. It just needs to start the operation, and can then move on to other work while the I/O hardware (disk controller, network interface, etc.) does the I/O work. The hardware lets the CPU know when it's finished by interrupting the CPU, and the OS then delivers the event to your application.
Frequently higher-level abstractions and APIs don't expose the underlying asynchronous API's available from the OS and the underlying hardware. In those cases it's usually easier to create threads to do asynchronous operations, even if the spawned thread is just waiting on an I/O operation.
If the asynchronous operation requires the CPU to do work, then generally that operation has to happen in another thread in order for it to be truly asynchronous. Even then, it will really only be asynchronous if there is more than one execution unit.
This question is darn near too general to answer.
In the general case, an asynchronous call does not necessarily create a new thread. That's one way to implement it, with a pre-existing thread pool or external process being other ways. It depends heavily on language, object model (if any), and run time environment.
Asynchronous just means the calling thread doesn't sit and wait for the response, nor does the asynchronous activity happen in the calling thread.
Beyond that, you're going to need to get more specific.
No, asynchronous calls do not always involve threads.
They typically do start some sort of operation which continues in parallel with the caller. But that operation might be handled by another process, by the OS, by other hardware (like a disk controller), by some other computer on the network, or by a human being. Threads aren't the only way to get things done in parallel.
JavaScript is single-threaded and asynchronous. When you use XmlHttpRequest, for example, you provide it with a callback function that will be executed asynchronously when the response returns.
John Resig has a good explanation of the related issue of how timers work in JavaScript.
Multi threading refers to more than one operation happening in the same process. While async programming spreads across processes. For example if my operations calls a web service, The thread need not wait till the web service returns. Here we use async programming which allows the thread not wait for a process in another machine to complete. And when it starts getting response from the webservice it can interrupt the main thread to say that web service has completed processing the request. Now the main thread can process the result.
Windows always had asynchronous processing since the non preemptive times (versions 2.13, 3.0, 3.1, etc) using the message loop, way before supporting real threads. So to answer your question, no, it is not necessary to create a thread to perform asynchronous processing.
Asynchronous calls don't even need to occur on the same system/device as the one invoking the call. So if the question is, does an asynchronous call require a thread in the current process, the answer is no. However, there must be a thread of execution somewhere processing the asynchronous request.
Thread of execution is a vague term. In a cooperative tasking systems such as the early Macintosh and Windows OS'es, the thread of execution could simply be the same process that made the request running another stack, instruction pointer, etc... However, when people generally talk about asynchronous calls, they typically mean calls that are handled by another thread if it is intra-process (i.e. within the same process) or by another process if it is inter-process.
Note that inter-process (or interprocess) communication (IPC) is commonly generalized to include intra-process communication, since the techniques for locking, and synchronizing data are usually the same regardless of what process the separate threads of execution run in.
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