How does neon EVM work?

Could you please explain the workings of the neon EVM in more detail? I'm particularly interested in understanding how it functions as a virtual machine specifically designed for the Neon blockchain, as well as its compatibility with Ethereum-based smart contracts. Additionally, I'd like to know about its performance capabilities, including transaction speed and scalability. Lastly, I'm curious about any unique features or advantages that the neon EVM offers over other virtual machine solutions in the cryptocurrency and finance space.