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yes it is used to smooth the edge after the stone if needed, also on a fabric component can be used to bring back edge that has lost a bit of it's sharpness. CrO and notron 4/8k is great combination,...

if you do not have access to strops I'd suggest get a good quality strop.
For hone I would go for a barber hone because it is the cheapest option, and next year may be something synthetic like 4/8k...