How does mSOL work?

Could you elaborate on the functionality of mSOL, please? As a cryptocurrency enthusiast, I'm interested in understanding the intricacies of how it operates. Does it serve as a tokenized representation of staking rewards on the Solana blockchain? If so, how does the staking process work and how are the rewards distributed? Also, what are the benefits of using mSOL over staking directly on the Solana network? I'd appreciate a concise yet comprehensive explanation that covers the key points regarding its functionality and value proposition.