A sharpening stone is a stone that has got a coarse side and usually a finer side, and that is going to take and re-shape your edge and get it back down thin enough in order to sharpen it. You are basically taking something that is blunt and thinning it back down. You have to remove all of this extra metal and get it back down to where it is thin enough to cut. Very simply, all a knife is is a very thin piece of steel to split whatever you are cutting. If the knife is obviously thicker, it is like trying to cut something with a chisel; it is not going to happen.
Works well. Just got it today, sharpened two pocket knives, one a 8Cr13MoV Chinese steel, the other s30v American steel The stone made short work of both steels (which were pretty sharp already). But notably was able to make the s30v hair shaving sharp easily, something I've had trouble with. Inexpensive and useful, I love this stone. It's not the Ninja sharp 8000+ grits that you can find, but for pocket knives and EDC, it's perfect and inexpensive. Get One!!!!!!!!!!!!
Hobby microscope view of a 220 grit diamond sharpening stone. Tiny diamonds are electroplated to a perforated metal carrier strip and bonded to a plastic backing. The feature identified with the red line across it measures about 0.08 mm across. The dark area at upper right is a void designed to allow for swarf created during sharpening to be cleared from the diamonds. This relatively coarse stone would be used to reshape a damaged blade edge which would be refined by finer grit stones.
The double sided 400 and 1000-grit Water Stone Sharpening Block by Whetstone enables you to safely and easily sharpen and polish your kitchen cutlery, hunting or pocket knives, blades and razors. You can even use it for your gardening tools! This stone only requires water, no oil needed! Made with durable green silicon carbide, this honing tool will last for years to come.
Prior to using any kind of sharpening stone, it is advised that individuals soak the sharpening stone in light machine oil or household oil for at least 12 hours before being used. Before being used, it is advisable to wipe the surface of the sharpening stone to get rid of grime, grit or dirt that may have accumulated overtime during the time of storage.

An extremely well written and informative article on sharpening. Overtime we all get to love certain stones for our sharpening needs. I am a huge coticule fan, and although i have used all the others, i always come back to this natural stone above all others. Still trying to figure if i chose it or it chose me! NEver the less there are so many options out there it is not hard with a little time and effort to find the right combination for your needs.
Now it's time to polish. This is when you'll swap over from the coarse grit to the finer grit (make sure this side is wet, too). I found the knife still had a bit of grime on it, so I gave it a wipe clean beforehand. The motion is exactly the same as with sharpening, but you can apply slightly less pressure, and limit to roughly 30 strokes on each side. 
Ceramic sharpening stones were the early replacement for natural stones. Unfortunately there are huge differences in the quality of ceramic stones so be wary. Some are extremely soft and dish out very quickly and at the other end of the spectrum some are so hard they tend to glaze over in a hurry. Ceramic stones need a good soaking for about 10 or more minutes to saturate the pores of the stone prior to use. As all knife steels are different we tend to find that ceramic stones tend to work better with some knives over others. There are no hard and fast rules but we like ceramic for Ao-ko and single edged knives. The Kaiden Ceramic stones are the fastest cutting Japanese stones in Australia and are recommended for advanced users.
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Over the course of two days I re-sharpened nearly a dozen old blades, including removing the secondary bevel on an old stainless Ontario saber-grind Navy diver's knife, convexing the edge on flat ground 1095 Schrade 55 that also came with a secondary bevel, and fixing a broken tip on an old Kershaw folder. These stones made quick work of the Schrade and Kershaw. Both had completely new edge geometry within 30 minutes apiece. The Kershaw looked like-new, as if the tip had never broken. And the Schrade cut much better than it's secondary bevel would previously allow, regardless of how sharp I got it with a ceramic rod and strops. The Ontario took a little more work, as it had been abused a little the last time I'd held it, over 25 years ago and was as dull as a case knife - one of the reasons I decided to go ahead and do a full saber grind - well, a slightly convexed saber, I suppose would be more accurate. But within under an hour of using the two stones and a couple leather strops (one with black compound, another with green), the Ontario was shaving sharp again too.

When the block is intended for installation on a bench it is called a bench stone. Small, portable stones (commonly made of bonded abrasive) are called pocket stones. Being smaller, they are more portable than bench stones but present difficulty in maintaining a consistent angle and pressure when drawing the stone along larger blades. However, they still can form a good edge. Frequently, fine grained pocket stones are used for honing, especially "in the field". Despite being a homophone with wet in most dialects of modern English, whetstones do not need to be lubricated with oil or water, although it is very common to do so. Lubrication aids the cutting action and carries swarf away.

The word “Novaculite” is derived from the Latin word “novacula”, which means “razor stone” and is essentially a metamorphic, recrystallized, variety of Chert composed mostly of microcrystalline quartz that is found in the found in the Ouachita Mountains of Arkansas and Oklahoma and in the Marathon Uplift of  Deposited in the Devonian Period and the early Mississippian Subperiod some 410 to 325 million years ago and subjected to uplift and folding during the Ouachita orogeny of the Atokan Epoch (early Pennsylvanian Subperiod), Novaculite is a very tough stone that is resistant to erosion and thus, the various layers of Novaculite stand out as ridges in the Ouachita Mountains. Thus, due to both its availability and its composition, it has been mined since ancient times for use as arrowheads and spear heads as well as in more modern times for use as sharpening stones.

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The type and size of the blade being sharpened determines the size of the stone needed. In general , a 6" stone is considered a small sharpening stone, an 8" stone is a common larger size, and a stone larger than 8" (10"-12" are available) is considered generously sized. Stones smaller than 6" (3" and 4" stones are quite common), are considered pocket stones and can be used for toolboxes, tackle boxes and on-the-go sharpening, but are generally not recommended for regular sharpening jobs.
The stone is of good quality. It can be used with water or oil - but not both at the same time of course :) ... What I really want to mention is that Hayneedle has amazing customer service - no joke! My stone was shipped from the mfg. not hayneedle whse and there was a chip on one corner. They said - we can't have that! ... So they took care of the whole matter with NO cost to me and they were very friendly as if I was doing them a favor!

I recommend it as a lightweight alternative to larger stone for smaller knives. Leather necklace is comfortable and seems strong. I conditioned it for suppleness and swim with it on tightened as a choker. Stone is small, dog-tag size. I use it with water. Functional for small folder knives and multi-tools. Not useful for large fixed blades, since you can't make a long stroke. Small to grip. I use double-sided tape on one side to keep it in place on a flat rock. Not sure of grit, seems like around 1000. It took a while, but i got my old boy scout knife sharp.