550 paracord gets thrown around like a magic word. Here is what the rating means, how to spot fake cord, and nine field uses beyond the obvious.
"550 cord" means the rope is rated to hold 550 pounds before failing. That's the minimum breaking strength of real mil-spec Type III paracord — a kernmantle construction with a braided sheath around seven inner strands.
Each inner strand (called a "bundle") is itself a strong 2-ply line. Pull them out and one length of paracord becomes eight usable lines: the sheath plus seven strands. Fishing line, sewing thread, snare wire replacements, dental floss in a pinch — the strands are the hidden payload.
One hank of real 550 cord is arguably the highest utility-per-ounce item in any kit. It's also the cheapest.