.NET Core is a modular, cross-platform version of .NET that allows developers to build applications that run on Windows, Linux and Mac. It includes a small, optimized runtime and a set of libraries. .NET Core is modular, managed, cross-platform, supports modern languages like C#, and allows for easy interoperability with native code and extensibility through NuGet. It aims to provide a unified .NET experience across platforms and application types. The .NET Execution Environment (DNX) and ASP.NET 5 build on .NET Core to provide a development environment and framework for building cross-platform web applications.