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Braided line was one of the earliest types of fishing line, and in its modern incarnations it is still very popular in some situations because of its high knot strength, lack of stretch, and great overall power in relation to its diameter. Braids were originally made from natural fibers such as cotton and linen, but natural fiber braids have long since been replaced by braided or woven fibers of man-made materials like Dacron, Spectra or micro-dyneema into a strand of line. Braided fishing lines have low resistance to abrasion, sharp objects can easily cut braided line. Their actual breaking strength will commonly well exceed their pound-test rating.
Braided lines often have 1/3 to 1/4 the diameter of mono or fluorocarbon lines at a given test breaking strength. Therefore, it is easy to fit much longer braided line on a spool than monofilament or fluorocarbon line for the same strength. This is very important for deep sea fishing, since reels don't have to be very big to accommodate long lines. Also, thin braided lines provide less resistance to sea currents.
Braided lines have very little stretch, making fishing rigs very sensitive to fish bites; This is very important for both deep sea fishing and when targeting fish with a gentle bite. Due to the minimal stretch of braided line, hard-hitting fish will frequently cause the line to break. Thus it is very important to set the drag on reels on very low values.
Braided fishing lines are very flexible and can be easier to cast long distances. Braided line typically floats, and as such, is a common choice for topwater rigs, etc.