anybody can tell me the difference it has with dealift except that it is performed from the rack at a higher position.
2 purposes
1)Helping the sticking points of a deadlift(like maybe the last 1/2).The point where you have difficulty getting up.
2)To target lower back without/minimal leg involvement.
Again, it depends how high you set the pins at.Most would set it at around knee level or slightly below.
You can also try "good mornings" and "cable pull-throughs " to help your deadlift increase and would also reap similar benefits.Search google image.
Because you can usually rack pull more than you deadlift(unless your grip is weak), it's able to overload the posterior chain, grip and upper back. It's also a great option for people with flexibility issues that prevent them from doing full deads. The setup for rack pulls is slightly different from that of a mid-pull for deadlift, so the carryover from a rack pull to a deadlift lockout isn't as much as popularly believed.