Blosc is a library that can compress and decompress data faster than memcpy by taking advantage of the large performance gap between CPU and memory. It works by dividing data into blocks that fit CPU caches, using multithreading, and SIMD instructions. Real-world tests show Blosc can compress genomics data 15-40x smaller with similar access speeds. Blosc is used in libraries like Bloscpack and BLZ to provide efficient compressed containers for large NumPy and other datasets while maintaining close to uncompressed performance.