How is the Instant Pot different than a pressure cooker?
It is a pressure cooker; but you can use it as a slow-cooker, too (you’d want to get the extra glass lid for that); and the model we bought will make yogurt. It’s electric, not a stove-top cooker.
It is a Crock Pot or Slow Cooker on Steroids
Does so many things.
I don’t know why it wasn’t around earlier
It’s basically a pressure cooker with its own electronically controlled heating element built in, which lets it regulate the temperature much more precisely. This lets it stay right at the equilibrium point meaning less steam gets vented which helps foods retain more of their natural moisture. At the same time, because you don’t have to add as much extra water to offset the venting, the environment inside the pot is actually less soupy. What you get is a sort of happy paradox where the cooking process is comparatively drier — there are even recipes for things resembling cakes — yet retains moisture well.
That’s my take on it anyway. I don’t own a Magic Pot but I’ve been intrigued with them and the question of what exactly it is that’s special about them. I’m pretty sure it comes down to the benefits of holding the equilibrium through precise temperature control rather than primarily through venting like with conventional pressure cookers.