Stropping a blade after honing is an integral and important part of the sharpening process that has been used for at least a couple of hundred years. Stropping helps to remove any extraneous material created by the sharpening process
When studied under a micro scope a freshly sharpened blade edge looks like jagged peaks and troughs.
Stropping the blade edge greatly reduces the size of the peaks and troughs resulting in a finer edge, more durable edge
Although stropping was most commonly used for finishing cut throat razors in barbershops. The same underlying principles of finishing an edge apply to finishing both chisels and plane blades. The only difference is that the Razor strop is flexible creating a slightly convex edge profile, whereas the strop for chisels and plane blades tend to have a rigid base.