Zope is an open-source application server written in Python that incorporates a transactional object database and a range of functionalities including a search engine and a flexible security layer. Initially developed in 1998 by Digital Creations, Zope has a component-based architecture that supports various integration options and can handle dynamic content effectively. While Zope offers advantages like easy content management and version control, it requires a good understanding of Python and can be complex for some users.