Waterstones are synthetic stones designed to be softer than oil stones. These softer grade stones are used with water as the lubricant (versus oil) to develop a fast cutting slurry.
The Norton Waterstone system was designed in a carefully planned sequence to create sharpening efficiency. You get the level of abrasiveness you need at each stage, without wasting time trying to sharpen your tools on a grit that is too fine, too soon.
