The last reply jogged my memory - There were two dbx systems, type I and type II. Type I was intended for open real tape and used a wider bandwidth into the compression control channel and less eqaulization. Type II was intended for cassette, LP, and other consumer applications.
Both types use a 2:1 compander scheme with a constant slope - there is no reference level where dbx changes its behavior. This is in contrast to Dolby B,C and S which do very little to the signal once it passes the reference level (the Dolby double D on your cassette dack level meters), and increase the compansion effect as the signal becomes smaller. Thus recorder/tape calibration is critical.
The Dolby systems focuses on one or more sliding frequency bands depending on the type (B, C, S). dbx runs broadband.
Dolby seems to do less to the signal than dbx, which probably accounts for my feeling that it's more transparent. If you doubt this, try playing back and undecoded dbx signal - it's unlistenable. In contrast , an undecoded Dolby B, C, or S signal, while sounding strange, will still be listenable.
The dbx massive 2:1 constant slope compansion sometimes results in audible breathing as noted by previous reply.
-- from the store of now useless knowledge!