What is MoSCoW code?

Could you please explain what the MoSCoW code actually represents? I'm somewhat familiar with the concept of prioritization in project management, but I'm curious to know how this particular acronym fits into the equation. Is it a widely adopted method for ranking features or requirements? If so, what are the specific benefits it brings to the process? Also, how does it differ from other prioritization techniques? I'm interested in understanding its practical applications and how it can help teams make informed decisions. Thank you for clarifying.