When should I use OWIN Katana?

I am new to OWIN and Katana. I really don’t get why I should use OWIN, while I can use IIS. To simplify, my question is: What do I lose if I skip learning OWIN and use IIS for my websites?

I googled but there is not a simple explanation. There is some information here, but they use some jargon phrases so I cannot understand it.

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