Boron nitride is a compound of boron and nitrogen with a chemical formula of BN. When its crystalline structure is cubic, its abrasive cutting qualities are analogs to diamonds. The only harder abrasive particle is diamonds, but CBN will hold its integrity at higher temperatures than diamonds. The really juicy plum in the CBN pudding is thermal conductivity. The most common material used in grinding wheels for tool sharpening is aluminum oxide, which is not a good thermal conductor. Because of this, 90% of the heat from grinding with aluminum oxide ends up in the work piece. CBN is a good conductor of heat, so only 40% of the heat goes into the tool being ground. The rest goes into the wheel, which, being metal, is a good conductor of heat. Thermal properties are so good that there is very little sparking when grinding with CBM and the tool is usually cool enough to touch. Because of this superior thermal conductivity, CBN will dry grind tool steel where diamond wheels will be ruined if used dry.
There are some drawbacks to CBN wheels, the first being expense. The typical 6″ or 8″ wheel costs between $150 and $250. The other drawback is that they will only grind hardened tool steel: mild steel will ruin them. They really work best on high-speed steel but will do fine on carbon tool steel that is Rockwell C scale 55 or above. I feel the expense for even one wheel is justified by the fact that most people will never need to replace it and a good aluminum oxide wheel costs between $50 and $75 and wears out. A solid compromise is to keep a 46-grit aluminum oxide wheel on the left side of your grinder and mount an 80-grit CBN wheel on the right. Do your mild steel and rough tool grinding on the aluminum oxide and final tool grinding on the CBN.
Because there is no danger of the wheel exploding, you can mount CBN wheels at a higher level, giving better visual acuity. If you are also running an aluminum oxide wheel I would not do this, however.Using CBN wheels is quite a different experience. There is no vibration, there is no shower of sparks and there is not even really loud noise. Only light pressure against the wheel is required. It is all very sedate, and the finished grind is performance art. On scrapers the burr is uniform, working as well as, or better than, one raised on an aluminum oxide wheel. I even grind carving tools on the 80-grit CBN without burning them.