The proper name of the alloy is N690. It is made by Bohler in their Austria, mill which is why it is more often found on European knives than on knives of other countries. The composition is similar to that of 440C with similar amounts of Carbon, Chromium, and Molybdenum. However, N690 also contains cobalt and a small amount of Vanadium. These additions enhance the properties of the alloy.
I got a chance to try N690 in a Benchmade Monochrome.
When I ran side by side manila rope cutting comparisons, I found the edge retention of N690 to be similar to that of 154CM and VG10 when all three were hardened to 59HRC.
I also found that the N690 blade sharpened almost as easily as AUS8 and that it took an edge that was every bit as fine. (Small amounts of Vanadium are said to produce alloys with finer grain structure, which allows the blade to take a finer edge.) Seemed to be true to me in this case.
I would look at N690 for the same uses I would look at 154CM or VG10. I wouldn't choose it for a chopper blade (Tomahawk? not if it will be used to chop into wood, Chop flesh? maybe). But would make an awesome skinning blade.
If I found another design I liked in N690 I would certainly buy it. Excellent blade alloy.