System Verilog is a hardware description and verification language that combines features of HDLs like Verilog and VHDL with features from specialized hardware verification languages and object-oriented languages like C++. It became an official IEEE standard in 2005. Verification is the process of ensuring a hardware design works as expected by catching defects early in the design process to save costs. System Verilog is well-suited for verification through features like assertion-based verification, functional coverage, object-oriented programming, and constrained randomization. Assertions allow verifying that expressions or properties hold true during simulation through immediate and concurrent assertions.