Simple explanation can't be stuffed, increase, valve lift and duration, not special to Honda. Allows different valve timing and lift at different speeds. Non VVT same valve timing all the time, less performance in theory as valves always run in same timing for open/shut, less aggressive cams also generally, but more simple to operate. Easy to get running on anything.... More complex engine, more complex ECU generally.
http://en.wikipedia.org/wiki/Variable_valve_timing
First made by Porsche in the 1950s so yeah...
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